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ASIA ORIENT: Annual Report 2024

HKEXJul 30 05:32 ET · Announcements

Asia Orient (00214) released annual performance, with shareholders' losses of HKD 3.769 billion, turning a profit into a loss compared to the same period last year.

According to the financial news app, Asia Orient (00214) has released its annual performance as of March 31, 2024. The company earned HKD 1.903 billion in revenue, a decrease of 17% year-on-year; the shareholders suffered losses of HKD 3.769 billion, compared with a profit of HKD 429 million in the same period last year, with a loss of HKD 4.48 per share. The announcement mentioned that the main reason for the loss was the increase of expected credit losses for debt security investments. Other changes included the property development project of the joint venture located in Gu Dong Bei, which failed to reach a consensus with the government on land price compensation within the specified time limit, resulting in the government reclaiming the land and causing a loss of market share.

Zhitong FinanceJun 28 10:15 ET