HANISON (00896) announced its interim results, with a net loss of approximately HK$193 million, an increase of 78.64% compared to the same period last year.

HANISON (00896) announced its interim results for the six months ended September 30, 2024, with total revenue of approximately HK$984 million, an increase of 49.2% year-on-year. The net loss was approximately HK$193 million, an increase of 78.64% year-on-year; with a loss of 18 HK cents per share. The announcement stated that the net loss was mainly due to high interest rates and a downturn in the property market, resulting in a net loss of approximately HK$189.9 million from the revaluation of properties held by the Group and associated companies, together with interest expenses of approximately HK$26.2 million. The net loss from the revaluation of properties held by the Group and associated companies includes fair value losses on investment properties, impairment provisions for loans to associated companies under an expected credit loss model, and share of performance losses in associated companies recognized during the period.