Yongyi International (01218) announced interim results for the six months ended September 30, 2023. The group obtained during the period...
According to the Zhitong Finance App, Yongyi International (01218) released interim results for the six months ended September 30, 2023. The group achieved continuous business turnover of HK$130 million during the period, an increase of 244.17% over the previous year; losses attributable to shareholders of HK$705.44 million, an increase of 181.02% over the previous year; and a basic loss of HK0.95 cents per share.
According to the announcement, the increase in net losses was mainly due to (among other things) an increase in losses due to changes in the fair value of investment properties; an increase in amortization of development properties held for sale; and an increase in financing costs. These losses have been partially offset by increases in fair value variable returns on financial assets that are included in profit and loss at fair value. The consolidated loss from discontinued operations was approximately HK$2,092 million, compared to a profit of approximately HK$6.591,000 for the period 2022.