China Securities International (00943) announced interim results for the six months ended December 31, 2023, with total revenue of 84...
According to the Zhitong Finance App, China Securities International (00943) announced interim results for the six months ended December 31, 2023, with total revenue of HK$84.07 million, a year-on-year decrease of 88.74%; losses attributable to company owners were approximately HK$694 million, an increase of about 18.985 times over the previous year; and a basic loss of HK5.62 cents per share.
According to the announcement, the sharp decline in revenue was mainly due to the fact that most residential units of the project in the Nancheng district of Dongguan City, Guangdong Province were delivered in July 2022, and the pre-sale proceeds were confirmed accordingly in the first half of 2022/23, which reduced revenue from the property development business; and the combined impact of the decline in revenue from the health and household goods business.
The increase in losses was mainly due to the decline in earnings from property development and the health and household goods business; impairment losses on the equity of associated companies and funds receivable from associated companies; impairment losses on properties to be sold during the development of the Nanjing project; and increased financing costs, mainly due to the confirmation of penalties and penalties relating to overdue bank loans for the Nanjing project.