Jinwu Financial News | Xing Sheng Chuang (00896) announced that for the six months ended September 30, 2023, the Group's unaudited consolidated loss was HK$108 million, while the net loss for the same period in 2022 was HK$77.6 million. Net loss increased 39.3% from the previous period.
According to the announcement, the net loss was mainly due to an increase in interest expenses during the period and a further reduction in the valuation of investment properties held by the group and joint ventures and properties for sale under development. This reduction in valuation was confirmed during the period through loss from changes in the fair value of investment properties, write-off of properties under development, and loss sharing in joint ventures.
For the six months ended September 30, 2023, the basic loss per share and the diluted loss per share were HK$9.9 cents and HK$9.9 cents, respectively. The basic loss per share and the diluted loss per share for the corresponding period last year were HK$7.0 cents and HK$7.0 cents respectively.
In the same period, unaudited consolidated revenue of HK$660 million was recorded, an increase of 16.5% over the same period last year.