CHINESE EST H reported a loss of over 2.1 billion yuan last year and will resume dividend payments, with a final dividend of 3 cents per share
CHINESE EST H reported a loss of approximately HKD 2.11 billion last year, compared to a profit of HKD 76.83 million the year before, mainly affected by the unrealized fair value of investment properties and realized losses. The core loss was approximately HKD 490 million. The group resumed dividend payments, with a final dividend of HKD 0.03 per share, maintaining a stable cash flow. Last year's revenue was HKD 340 million, a year-on-year decrease of about 30%. It is expected that the market atmosphere will improve this year, but due to ample supply, property prices will remain weak
CHINESE EST H turned from profit to loss last year, with a loss of approximately HKD 2.11 billion, compared to a profit of HKD 76.83 million the previous year, affected by unrealized fair value losses on investment properties of HKD 1.65 billion and realized losses of HKD 77.1 million. Excluding this impact and related deferred tax items, the core loss was approximately HKD 490 million.
The group has resumed dividend payments, with a final dividend of HKD 0.03 per share. The group stated that it currently maintains a stable cash flow and has sufficient resources to sustain operations. Investment properties recorded unrealized fair value losses, but there was no impact on operating cash flow, and the overall financial and operational situation remains optimistic.
The group reported revenue of HKD 340 million last year, a decrease of approximately 30% year-on-year. Rental income from properties fell by over 20% to HKD 205 million, dividend income dropped by 50% to HKD 40.49 million, and the investment income from the sale of trading investments also fell nearly 76% to HKD 15.89 million.
CHINESE EST H anticipates that as interest rates gradually decrease, developers will accelerate the sale of inventory, estimating an improvement in the real estate market atmosphere this year. However, due to ample supply, property prices are expected to remain weak. The group maintains a cautious attitude towards its business plans and operational execution
