SHING CHI HLDGS released its annual performance, with a loss attributable to shareholders of HKD 10.07 million, an increase of 469% year-on-year
SHING CHI HLDGS released its annual results for the year ending September 30, 2024, reporting revenue of HKD 144 million, a year-on-year decrease of 18.86%; the loss attributable to shareholders was HKD 10.07 million, a year-on-year increase of 469%; the loss per share was HKD 1.26. The decrease in revenue was mainly due to the completion of large projects and the lower value of new projects, although revenue from other construction projects and consulting services increased
According to the Zhitong Finance APP, SHING CHI HLDGS (01741) announced its annual performance for the year ending September 30, 2024, reporting revenue of HKD 144 million, a year-on-year decrease of 18.86%; the loss attributable to shareholders was HKD 10.07 million, a year-on-year increase of 469%; the loss per share was HKD 1.26.
The announcement stated that the decrease in revenue was mainly due to the completion of several large projects by September 30, 2023, and the lower value of projects commenced and undertaken for the year ending September 30, 2024, which led to a reduction in revenue contributions from foundation and site leveling works as well as general construction works and related services. This reduction was offset by an increase in revenue from other construction works and construction-related consulting services due to the increase in the number of projects undertaken during the year
