According to the Zhitong Finance App, Taixing Real Estate (00277) announced interim results for the six months ended September 30, 2023, with a turnover of HK$28.687 million, an increase of 11.76% over the previous year; profit attributable to the company's shareholders of HK$10.506 million, loss attributable to the same period last year of HK$145.28 million; earnings per share of HK$3.79 cents, and an interim dividend of HK$0.3 per share.
According to the announcement, the increase in revenue was mainly due to the increase in rent when the Group's properties were renewed. The change from loss to profit is due to a sharp reduction in revaluation losses on equity securities in hand, and the fair value of investment properties after revaluation at the end of the period declined slightly. Impairment loss deductions for debt instruments with other comprehensive income reported at fair value increased sharply to HK$13.7 million, an increase of HK$9.4 million.