Legend Strategy Reports Major Impairment Losses for FY2023

Legend Strategy International Holdings Group Co., Ltd. (HK:1355) has released an update.

Legend Strategy International Holdings Group Co., Ltd. disclosed substantial impairment losses of approximately HK$41.76 million for the fiscal year 2023, citing lackluster revenue growth at its Wuhan and Huizhou branches despite a market rebound post-COVID-19. The losses were a result of the company’s accommodation operations being unable to keep pace with competition and retain long-stay customers, particularly in regions heavily impacted by the pandemic. The impairment losses were determined based on valuations using the discounted cash flow method by an independent valuer.

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