China Securities International (00943) announced annual results with losses attributable to shareholders of HK$699 million

According to the Zhitong Finance App, China Securities International (00943) announced results for the year ended June 30, 2024, with total revenue of HK$148 million, a year-on-year decrease of 83%; loss attributable to company owners was HK$699 million, profit of HK$69.131 million for the same period last year; basic loss per share was HK5.56 cents.

Total revenue for the period decreased year-on-year due to reduced revenue from property development and health and household goods businesses. The gross margin fell from 29.1% in fiscal year 2022/23 to 15.5% in fiscal year 2023/24, mainly due to promotional activities for the Dongguan project in the first half of fiscal year 2023/24 and the continued decline in housing sales prices in the current slump in China's real estate market.