Jingye Mingbang Group (02231) announced interim results. Shareholders' losses of 263 million yuan narrowed by 30.31% year-on-year

According to the Zhitong Finance App, Jingye Mingbang Group (02231) announced interim results for the six months ended June 30, 2024. The group obtained revenue of RMB 2.304 billion (same unit), an increase of 607% over the previous year; losses attributable to the company's owners amounted to RMB 263 million, a year-on-year decrease of 30.31%; and a loss of 0.16 yuan per share.

The company focuses on developing high-quality residential properties with a comfortable and convenient living environment. During the review period, the Group's revenue from property development and sales increased significantly by 729.2%, from $271 million in the first half of 2023 to $2.25 billion in the same period of 2024, accounting for 97.7% of the Group's total revenue during the review period. The significant increase in revenue was mainly due to an increase in the total floor area of the delivered properties in the first half of 2024.