Fangzheng Holdings (00418) announced its annual results for the year ended December 31, 2023. The group will take...
According to the Zhitong Finance App, Fangzheng Holdings (00418) announced annual results for the year ended December 31, 2023. The group achieved revenue of HK$982 million during the period, up 2.55% year on year; profit attributable to shareholders was HK$597.56 million, up 71.95% year on year; basic profit per share was HK$5.
According to the announcement, the increase in profit this year was mainly due to the net impact of the following: an increase in other income and profit due to an increase in bank interest income; a decrease in total sales and distribution expenses and administrative expenses due to a reduction in the number of employees and severance payments; an increase in other operating expenses due to the return of one-time proceeds from loan impairment preparations commissioned by Peking University Fangzheng Group Co., Ltd. in the previous year; and an increase in income tax credits due to the depreciation of assets transferred back in the previous year.