Baolong Real Estate (01238) announced its 2023 annual results. The group achieved revenue of 22.94 billion yuan during the period (people...
According to the Zhitong Finance App, Baolong Real Estate (01238) announced its 2023 annual results. The group achieved revenue of 22.94 billion yuan (RMB, same below) during the period, a year-on-year decrease of 27.01%; shareholders' losses amounted to 2,653 billion yuan; shareholders' profit for the same period last year was 408 million yuan, a year-on-year profit and loss; a basic loss of 64.1 points per share.
The announcement stated that the decline in revenue was due to a decrease in property sales revenue. For the year ended 31 December 2023, the Group delivered the corresponding projects in close accordance with its original completion and delivery schedule. Revenue from sold and delivered projects for the year ended 31 December 2023 was approximately $17.737 billion (2022: approximately $26.481 billion), down about 33.0% from the same period in 2022, mainly due to a decrease in residential and commercial property deliveries.