Jin Yi Group Holdings Limited (00565) announces profit increase, expecting the attributable annual profit to be no less than 39 million Hong Kong dollars, turning losses into profits year-on-year.

Zhongtong Financial News App reported that Glory City Holdings (00565) announced that the Group expects the company's owners' share of profits for the year ending June 30, 2025 to be no less than HK$39 million, compared to a loss of approximately HK$271 million for the year ending June 30, 2024. The Board of Directors believes that the expected turnaround from loss to profit is mainly due to (i) a one-off gain of approximately HK$89 million from terminating leases and canceling the confirmation of investment properties; (ii) a fair value change loss of approximately HK$56 million on investment properties; (iii) a gain of approximately HK$11 million from the bargain purchase of a subsidiary; and (iv) a net effect of approximately HK$6 million loss for the year from the discontinued operation of the air cargo charter business.