China Jinmao Expects to Turnaround to Profit in 2024

MT Newswires Live

2025/03/11

China Jinmao Holdings Group (HKG:0817) expects a profit attributable to owners of the parent of 1.0 billion yuan in 2024 against an attributable loss of 6.9 billion yuan for 2023, a Tuesday Hong Kong bourse filing said.

The real estate developer attributed the expected turnaround to a decrease in the provision for impairment allowances for assets such as properties held for sale or under development and a reduction in expenses and costs such as administrative, selling and marketing, and financing, among others.

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