Taixing Real Estate (00277) announced interim results for the six months ended September 30, 2023, with a turnover of HK$286.87 million, up 11.76% year on 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 an increase in rent when the Group's properties were renewed. The conversion from loss to profit was drastically reduced due to the sharp reduction in revaluation losses of equity securities in hand, and the fair value of investment properties after revaluation at the end of the period declined slightly. Impairment loss deductions from other debt instruments with comprehensive income recorded at fair value increased sharply to HK$13.7 million, an increase of HK$9.4 million.