Home » Xingsheng Creation (00896) Announces Interim Results Shareholders’ Attributable Loss of HK$77.589 million Turned Profits to Losses

Xingsheng Creation (00896) Announces Interim Results Shareholders’ Attributable Loss of HK$77.589 million Turned Profits to Losses

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Xingsheng Creation (00896) Announces Interim Results Shareholders’ Attributable Loss of HK$77.589 million Turned Profits to Losses

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Created by Xingsheng(00896) released its interim results for the six months ended September 30, 2022. The group achieved revenue of HK$566 million during the period, a year-on-year decrease of 19.49%; loss attributable to shareholders was HK$77.589 million, and profit attributable to shareholders was HK$93.418 million in the same period last year Hong Kong dollar, the year-on-year profit turned into a loss; the basic loss per share was 7 Hong Kong cents, and an interim dividend of 2.5 Hong Kong cents per share was proposed.

According to the announcement, the turnaround from profit to loss was mainly due to the decrease in the valuation of investment properties held by the Group and its joint ventures and the impairment loss of properties for sale under development. These losses are recognised during the period by means of losses on changes in fair value of investment properties, impairment losses on properties held for sale under development, and share of losses from joint ventures.

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