Zhongyu Land (01224) Fa Ying Guang expects annual shareholders' losses of about HK$650 million

According to the Zhitong Finance App, Zhongyu Land (01224) announced that the Group expects to make losses attributable to shareholders of approximately HK$650 million for the year ending December 31, 2024, compared with a loss of HK$1.9 billion in the same period last year. This year's loss reduction was mainly due to the revaluation of the Group's investment properties in the UK on December 31, 2024, resulting in a fair value gain of approximately HK$309 million (a fair value loss of HK$2 billion compared to the same period last year), which was partially offset by the reduced contribution of the Group's joint venture investments due to reduced property sales revenue and impairment losses in the property portfolio.