Gelonghui, March 22丨Yutai Real Estate (00075.HK) announced that for the year ended December 31, 2023, the Group expects to record an estimated loss attributable to shareholders of approximately HK$20 million to approximately HK$50 million, compared with a loss of HK$476 million last year.
According to the announcement, the decrease in losses was mainly due to the increase in confirmed property sales revenue in 2023, resulting in an increase in net profit, a decrease in the impairment of several property development projects, and profits generated by the sale of several subsidiaries, but the losses resulting from the revaluation of the Group's properties were offset by the comparison with last year's earnings.