Summary by Moomoo AI
Cong Hai Investment Limited released unaudited financial data for the three months ended 31 March 2024, showing that the company's revenue increased 19.8% year-on-year to HK$63.89 billion. However, pre-tax profit fell 6.3 per cent to HK$19.15 billion, while profit attributable to company owners also fell by 0.9 per cent to HK$12.72 million. The change in fair value of the investment property translated from a net gain of HK$311,008 thousand in the same period last year to a net loss of HK$20,528 thousand. The total assets of the company decreased slightly by 1.1%, while the equity attributable to the company's owners increased by 3.0%. In addition, the company maintained steady growth in its water and power generation business and increased corporate governance and transparency through voluntary disclosure of financial information. The Board of Directors said it would continue to expand the water supply chain and seize opportunities in strategic planning for the development of the Greater Bay Area in Hong Kong and Macau.