Gelonghui June 30Yutian China (00313.HK) reported that for the year ended March 31, 2023, its income was HK $51.708 million, down 91.89% from a year earlier. Its profit for the period attributable to shareholders was HK $1.422 billion, compared with a loss of HK $399 million in the same period last year. Basic earnings per share was HK6.09 cents.
The decrease in revenue is mainly due to the delivery of a large number of properties of the Yinchuan project to the buyer in the corresponding year. The income from management fees for the year was about HK $5.86 million, a decrease of 60.7 per cent compared with about HK $14.923 million in the corresponding year. In that year, rental income was about HK $10.65 million, a decrease of 65.9% compared with about HK $31.225 million in the corresponding year.
During the year, the group recorded an investment property revaluation loss of about HK $3.443 million, a decrease of 78.6% compared with about HK $16.098 million in the corresponding year.
The financing fee for the year was about HK $51.943 million, a decrease of 84.4% compared with about HK $333 million in the corresponding year, due to the sale of the sale group which had outstanding interest-bearing banks and other loans of about HK $1.5 billion on March 31, 2022.