Zhaobang Kai Properties (01660) announced annual results, with shareholders accounting for a loss of HK$409.85 million

Zhitong Finance ·  06/30/2023 22:57

Zhitong Financial App News, Zhaobangji Real Estate (01660) announced its results for the year ended March 31, 2023, with an income of HK $258 million, down 5% from the same period last year; the company's owners had a loss of HK $40.985 million, compared with a profit of HK $37.987 million in the same period last year; a basic loss of HK0.66 per share.

The decrease in total income during the period was mainly due to the sluggish construction market in Hong Kong, China and Chinese mainland during the year, as well as the decrease in rental income from construction machinery due to the provision of property management fee concessions to lessees during the COVID-19 pandemic. The decrease was partly offset by an increase in revenue from the annual integration of Chinese mainland's retail business into the Group's financial results for the current year.

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