According to the Zhitong Finance App, China Art Finance (01572) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 597.42 million (same unit), an increase of 118.53% year on year; profit attributable to the company's owners was RMB 11.19 million, a decrease of 24.51% year on year; profit per share was 0.66 points.
The company's profit before tax decreased by about 5.5 million yuan or about 25% from about 21.9 million yuan last year to about 16.5 million yuan during the reporting year. The decline in profit before tax was mainly due to a decrease in interest income and an increase in operating expenses from the Group's art and asset pawnbroking business.