Investment and Impairment - The company acquired a 20.2% stake in Red Power Group, which provides air transport services in China, and has recognized an impairment of HKD 20.3 million on this investment[2]. - By the end of 2021, the joint venture had nearly laid off all employees and ceased operations, prompting the company to impair its investment[3]. Joint Venture Performance - The joint venture held multiple licenses for its aviation-related business in China and employed 80 to 90 staff[3]. - The joint venture was profitable for the fiscal year ending 2020, but management changes and the prolonged COVID-19 pandemic negatively impacted its financial performance[3]. - The new management attempted to seek new business opportunities and implemented cost-cutting measures, but the company was unable to obtain financial data from the joint venture[3].
巴克1798集团(01010) - 2022 Q3 - 季度财报