According to the Zhitong Finance App, Yutai Real Estate (00075) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$7.274 billion during the period, an increase of 168.73%; the loss due to the company's equity holders was HK$3.94 million, a decrease of 93.68% over the previous year; and the basic loss per share was HK3.8 cents.
According to the announcement, the reduction in losses attributable to shareholders 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 property investments were offset by last year's earnings.