According to the Zhitong Finance App, Hong Kong Industrial International (00480) announced interim results for the six months ended September 30, 2023, with comprehensive revenue of HK$3.157 billion, an increase of 296.5% over the previous year. Underlying profit (net unrealized loss of HK$74.5 million excluding changes in the fair value of invested properties) was HK$192.2 million, up 576.8% year over year; profit attributable to company owners was HK$118 million, up 568.75% year over year; earnings per share of HK$7.9 cents.
According to reports, consolidated revenue and basic profit rose sharply, mainly due to the relatively low revenue and profit base for the same period last year. No new development projects were completed in Hong Kong or mainland China during this period. During this period, the launch of the Xingyiyuan residential project in mainland China became the main driver of the Group's consolidated revenue and underlying profit, leading to a significant increase in the two financial indicators. Coupled with steady income and profit contributions from the Group's property investments, the Group's segment performance was HK$504.5 million, up 138.5% from the same period last year.