[ET Net News Agency, 3 February 2021] Applied Development Holdings Limited (00519) said
the group is expected to record a loss of HK$23 million for the six months ended 31
December 2020, as compared to the loss of HK$105 million for the six months ended 31
December 2019.
The reduction in loss was mainly attributable to (i) an increase in fair value of
financial assets at fair value through profit or loss from a net loss of HK$58 million in
the six months ended 31 December 2019 to a net gain of HK$6 million in the six months
ended 31 December 2020; (ii) an increase in a net gain on disposal of financial assets at
fair value through profit or loss from a net loss of HK$14 million in the six months ended
31 December 2019 to a net gain of HK$0.2 million in the six months ended 31 December 2020;
(iii) a reversal of impairment loss on loans receivables of HK$10 million in the six
months ended 31 December 2020 while no reversal of impairment loss noted in the six months
ended 31 December 2019; (iv) an increase in the fair value loss of the group's investment
properties from HK$18 million in the six months ended 31 December 2019 to HK$35 million in
the six months ended 31 December 2020; and (v) a decrease in overall expenses on
administrative, selling and marketing and finance costs from HK$30 million in the six
months ended 31 December 2019 to HK$15 million in the six months ended 31 December 2020.
(RC)