According to the Zhitong Finance App, Gaoshan Enterprise (00616) announced its results for the six months ended September 30, 2023. The group achieved a turnover of HK$15.256 million, an increase of 14.51% over the previous year; the company owners accounted for a loss of HK$158 million, compared to a profit of HK$63.412 million for the same period last year; a loss of HK$2.28 per share.
The consolidated net loss was mainly due to a decrease in turnover; an increase in loss due to changes in the fair value of investment properties; an increase in impairment of holding and sale of development properties; and an increase in financing costs. This loss was partially offset by a net increase in the fair value variable income of financial assets that were included in profit and loss at fair value.