China-Singapore Guangzhou Knowledge City Investment and Development Co., Ltd. (02503) announced that the expected attributable surplus (excluding listing expenses) of the company's shareholders is expected to decrease from about 13.154 million yuan for the six months ending on June 30, 2023 to no less than about 1 million yuan for the six months ending on June 30, 2024.
The decrease in expected surplus for this period is mainly attributed to (i) a decrease in the number of construction projects during the period compared to the same period last year, leading to a decrease in revenue; and (ii) an increase in professional and other administrative expenses after the company's shares were listed on the Stock Exchange of Hong Kong.
