Shimao Reports Significant Loss Amid Rising Income

Shimao Property Holdings (HK:0813) has released an update.

Shimao Group Holdings’ subsidiary, Shanghai Shimao Co., Ltd., reported an unaudited net loss of approximately RMB 1.65 billion for the first nine months of 2024, despite an increase in operating income compared to the same period in 2023. The company’s financial performance was impacted by significant investment losses and credit allowances, highlighting ongoing challenges in managing costs and investments. Investors in the financial markets may find interest in the company’s strategies to navigate these financial hurdles moving forward.

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