Shangji Group (01207) announced its 2023 interim results, with revenue of about 146 million yuan, an increase of 37.8 million yuan over the previous year...
According to the Zhitong Finance App, Shangji Group (01207) announced its 2023 interim results, with revenue of about 146 million yuan, an increase of 37.89% over the previous year; losses attributable to the company's shareholders were about 409 million yuan, an increase of about 1.78 times over the previous year; and the basic loss per share was 1.99 points.
According to the announcement, the increase in losses was mainly due to the fact that although property sales, rental and operating income improved compared to the previous year, the rapid liquidation of a number of properties led to a decrease in gross margin; interest expenses increased year-on-year due to increased interest-bearing liabilities; and investment impairment provisions for individual joint ventures in line with market conditions.