HK Stock Market Move | After the performance, ART GROUP HOLD (00565) rose nearly 4%, with a mid-term attributable profit to shareholders of HK$26.587 million, turning losses into gains year-on-year.

ART GROUP HOLD(00565) rose nearly 4% after the performance report, up 3.97% as of the press release, at $1.31 Hong Kong dollars, with a turnover of $5.013 million Hong Kong dollars. On the news front, on February 28th, ART GROUP HOLD released its interim performance for the six months ending December 31, 2024, with revenue of $89.296 million Hong Kong dollars, an increase of 27% year-on-year; net profit attributable to shareholders was $26.587 million Hong Kong dollars, compared to a net loss attributable to shareholders of $38.29 million Hong Kong dollars in the same period last year, turning losses into profits; basic earnings per share were $0.99 Hong Kong cents. The announcement stated that the significant increase in profit during the interim period was mainly due to a one-time termination of lease income of approximately $303 million Hong Kong dollars and a reversal of deferred tax liabilities of approximately $157.41 million Hong Kong dollars related to the derecognition of investment property, offset by a loss of approximately $276 million Hong Kong dollars related to the derecognition of investment property; and a gain of approximately $105.76 million Hong Kong dollars from the bargain purchase of a subsidiary in China.