SOHO China ( (SOHOF) ) has released its Q4 earnings. Here is a breakdown of the information SOHO China presented to its investors.
SOHO China Limited is a prominent real estate development and property leasing company based in China, known for its significant presence in the office and commercial property sectors. The company has faced a challenging year, with its revenue declining to approximately RMB1,540 million, an 8% decrease from the previous year, amidst a weakening macroeconomic environment. Despite these challenges, SOHO China maintained a stable gross profit margin of 83% and an occupancy rate of 78% in its investment properties. The company reported an underlying profit of RMB278 million but faced a net loss of RMB113 million due to valuation changes and tax fees. Looking ahead, SOHO China plans to continue its strategic focus on stabilizing occupancy rates and managing costs to navigate the challenging market conditions.