China Huajun (00377) disclosed the annual results announcement for the year ended December 31, 2023. The company's total revenue...
According to Zhitong Finance App News, China Huajun (00377) disclosed the annual results announcement for the year ended December 31, 2023. The company's total revenue was 2,845 billion yuan, an increase of 73.34%; gross profit of 92.367 million yuan, a loss for the same period last year; the company's shareholders should account for an annual loss of 2,679 billion yuan, a year-on-year decrease of 5.07%; and a basic loss of 43.54 yuan per share.
According to the announcement, the overall increase in earnings was due to an increase in income from the Property Development and Investment Division. In the current year, Baohua Shanghai has been forced to conduct judicial auctions on an investment property project under development and multiple properties held for sale secured by a loan. All projects have been sold at a cost of about 2.17 billion yuan. As a result, the property development and investment division obtained revenue of about 1,299 billion yuan. The increase is also due to increased revenue from property sales following delivery of a number of completed property projects to customers this year.