On August 26, Keens Wayer International (06822.HK) announced that as of June 30, 2024, for a period of six months, the group was still able to maintain a consistent level of income, with income reaching approximately 0.33 billion Hong Kong dollars, a slight decrease of about 0.4% year-on-year. The decrease in income was mainly due to a decrease in income from Mainland China when presented in Hong Kong dollars due to the depreciation of the yuan and a reduction in sales in the Asia region. The profit attributable to owners of the company decreased by about 54.7% to approximately 3.4 million Hong Kong dollars. The basic and diluted earnings per share were 0.5 Hong Kong cents.
The decrease in profit attributable to owners of the company was mainly due to continued losses in fair value of investment properties during the period and an increase in income tax expenses due to withholding tax on dividends declared in Mainland China, as well as a significant increase in income tax expenses without offsetting tax losses.
