Lerado Financial Group Co. Ltd. (HK:1225) has released an update.
Lerado Financial Group Co. Ltd. reported an impairment loss on loan receivables totaling HK$285 million for the year ended December 31, 2023, primarily due to the deteriorating financial condition of the borrowers. This loss reflects a significant decline in the ability of borrowers to meet their debt obligations, prompting some loans to be transferred to stage 3 or written-off. The company is actively engaged in negotiations for repayment arrangements with the affected borrowers.
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