Richly Field China Development Limited (HK:0313) has released an update.
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Richly Field China Development Limited reported a significant loss for the fiscal year ending March 31, 2024, with a net loss of HK$222,262,000 compared to a net profit of HK$1,421,817,000 in the previous year. The company’s revenue declined and it faced substantial losses due to revaluation of investment properties, impairment losses, and increased finance costs. The overall comprehensive income also saw a drastic decrease, negatively impacting the earnings per share, which dropped from 6.09 HK cents to a loss of 0.95 HK cents.
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