Zhuoneng (Group) (00131) issued an announcement that the Group expects the 2024 fiscal year (as of June 2024...
According to the Zhitong Finance App, Zhuo Neng (Group) (00131) announced that it is expected that the Group will obtain profit attributable to company holders of approximately HK$0.15 billion to HK$0.17 billion in the 2024 fiscal year (the year ended June 30, 2024), and approximately HK$21 million in profit attributable to company holders for the year ended June 30, 2023 (fiscal year 2023).
According to the announcement, profit attributable to company holders in fiscal year 2024 is expected to increase compared to fiscal year 2023, mainly as a result of a combination of factors: resuming sales of properties located in Shenzhen, People's Republic of China (Shenzhen project) in fiscal year 2024, which increased the Group's revenue and gross profit; confirmed profit from the sale of Hong Kong properties; the tax authority's one-time refund of corporate income tax of about RMB 0.328 billion (FY2023: none); loss in the fair value of the Group's investment properties; mainly due to the current year No interest is capitalized on developing properties for sale, leading to an increase in the Group's financial costs.