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28/05/2021 11:31

Huabang Fin (03638) expects to record year loss

[ET Net News Agency, 28 May 2021] Huabang Financial Holdings Limited (03638) said it is
expected that the group will record a net loss of approximately HK$90 million to HK$95
million for the year ended 31 March 2021 as compared to the net profit position for the
year ended 31 March 2020.
It was mainly due to the issues of recoverability of account receivables as a result of
the global economic slowdown. For such reason, the provision for impairment loss under the
expected credit loss model on the group's account receivables is expected to increase by
approximately HK$92 million to HK$98 million for the year ended 31 March 2021 when
compared to that for the last year. (RC)

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