CHINESE EST H (00127) announces a profit of approximately $2.108 billion Hong Kong dollars for the year 2024. From a profit to a loss, distributing 3 Hong Kong cents per share.

CHINESE EST H (00127) announced its performance for 2024, with a revenue of approximately HK$337 million, a decrease of 29.77% year-on-year; a gross profit of about HK$280 million, a decrease of 34.9% year-on-year; and a loss attributable to owners of the company of about HK$2.108 billion, a turnaround from profit to loss. The loss per share is HK$1.105, with a proposed final dividend of 3 cents per share. The announcement stated that the decrease in revenue and gross profit was mainly due to (a) a decrease in total rental income of HK$52.6 million in the current year; (b) a decrease in net profit from the sale of trading investments of HK$49.9 million; and (c) a decrease in dividend income from an investment company engaged in property development and trading of HK$38 million. The turnaround from profit to loss was mainly due to a decrease in fair value of investment properties in the current year.