Asia Orient Holdings (DE:ASD1) has released an update.
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Asia Orient Holdings Limited reported a striking 769% increase in subsidiary property sales, but overall revenue fell by 17% for the fiscal year ended March 31, 2024, compared to the previous year. The company experienced a significant shift from a profit of HK$429 million to a loss of HK$3.769 billion, alongside a substantial decline in net assets and shareholder equity by 24% and 25%, respectively. Net debt increased by 5%, reflecting a challenging year for Asia Orient Holdings amid a tough economic climate.
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