Asia Television Holdings Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2023. For the period, the company expects 2023 is expected to significantly decrease to the range from approximately RMB 12 million to RMB 20 million as compared with the unaudited consolidated loss attributable to owners of the Company of approximately RMB 86.75 million in the corresponding period in 2022.
The expected decrease in the unaudited consolidated loss attributable to owners of the Company was mainly attributable to the net effect of: (i) an increase of the net gain on financial assets of approximately RMB 9.24 million as compared to the same period of the last year; (ii) the gain on disposal of a subsidiary of approximately RMB21.8 million as compared to the same period of the last year; (iii) an absence of the loss on disposal of 20% equity interest of a subsidiary, namely Million Federal International Limited, of approximately RMB 11.5 million as recognized in the same period of the last year; and the decrease in the administrative and operating expenses as compared to the same period of the last year due to the adoption of stringent cost control measures.