Guangdong Land Holdings Limited (HK:0124) has released an update.
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Guangdong Land Holdings Limited reported a 207.5% surge in revenue for the nine months ending September 2024, driven by increased property sales, yet faced a significant loss of HK$191 million due to fair value losses on investment properties and reduced gains from property disposals. The company’s gross profit fell by 31.1%, reflecting a shift in the profitability of delivered projects compared to the prior year. Despite these challenges, no further impairments were recorded, indicating a stable asset outlook.
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