Qingdao Holdings (00499) announced interim results. Shareholders' share loss of 14.398 million yuan narrowed by 61.88% year-on-year

According to the Zhitong Finance App, Qingdao Holdings (00499) announced interim results for the six months ended June 30, 2024. The total revenue obtained by the group during the period was 12.249 million yuan (RMB, same below), an increase of 16.94% over the previous year; losses attributable to shareholders were 14.398 million yuan, a year-on-year decrease of 61.88%; and a basic loss of 1.44 points per share.

According to the announcement, rental income from leasing of investment properties located in Hong Kong and mainland China during the period was approximately $5.7 million (2023:5 million yuan), accounting for 47% of the Group's total revenue.

The increase was mainly due to the fact that there were no vacant properties in the first half of 2024 compared to 2023. The Group's investment properties in Qingdao (known as the “22nd Century Tower”, including 13 floors above ground and 136 parking spaces below ground) and about 40% of other properties in China were vacant after the corresponding lease agreement expired in early March 2023.