Zitong Financial App News, Taixing Real Estate (00277) disclosed interim results (for the six months ended September 30, 2021), the company's turnover was about HK $30.865 million, down 5.97% from the same period last year; gross profit was HK $30.224 million, down 5.41% from the same period last year; the profit attributable to the company's shareholders was HK $4.011 million, compared with a loss of HK $59.223 million in the same period last year. Basic earnings per share are HK1.45 cents. In addition, the proposed interim dividend of HK1.2 cents per share will be paid on or around 30 December 2021.
According to the announcement, the decrease in revenue during the period was mainly attributable to the decrease in rents after the renewal of the Group's retail properties. The increase in profit attributable to the company's shareholders was due to a smaller decrease in the fair value of the investment property during the period. The fair value of investment properties decreased by HK $9.2 million (2020: HK $87.3 million) during the period.