{"id":795,"date":"2021-07-29T01:15:54","date_gmt":"2021-07-29T01:15:54","guid":{"rendered":"https:\/\/grandcityinvestment.com\/?p=795"},"modified":"2024-10-01T04:44:28","modified_gmt":"2024-10-01T04:44:28","slug":"china-properties-profit-rebounds-to-36-17m-in-2021","status":"publish","type":"post","link":"https:\/\/grandcityinvestment.com\/en_US\/china-properties-profit-rebounds-to-36-17m-in-2021\/","title":{"rendered":"China Properties profit rebounds to $36.17m in 2021"},"content":{"rendered":"<h1 class=\"nf__image\"><strong style=\"font-size: 16px;\"><em><span lang=\"EN-US\">This followed a net loss of $92.5m in 2020.<\/span><\/em><\/strong><\/h1>\n<div class=\"nf__description\" data-nosnippet=\"data-nosnippet\">\n<p><span lang=\"EN-US\">China Properties Investment Holdings Limited recorded a profit of $36.17m in the year ended March 2021, rebounding from the $92.59m loss in 2020.<\/span><\/p>\n<p><span lang=\"EN-US\">The company attributed this to the revenue increases in its property investment business ($9.77m) and money lending business (9.72m), valuation gain of $24.34m on investment properties and unrealised gain of $3.24m on dealing of financial assets amongst others.<\/span><\/p>\n<p>The company also recorded a foreign exchange gain on assets worth approximately $31.01m and a decrease in administrative expenses amounted to approximately HK$20.35m for the year ended 31 March 2021.<\/p>\n<section class=\"block block-newsletter text-center\">\n<div class=\"block-wrapper\">\n<div class=\"block__title text-left size-18 mb-10\">Get Hongkong Business in your inbox<\/div>\n<form id=\"form-newsletter-content\" class=\"d-flex flex-wrap\" action=\"https:\/\/hongkongbusiness.hk\/newsletter\/subscribe\" name=\"form-newsletter-content\" data-drupal-form-fields=\"subscribe_email_content\">\n<div class=\"form-group position-relative mb-0\"><input id=\"subscribe_email_content\" class=\"form-control material-input\" title=\"Please enter a valid email\" name=\"subscribe_email\" pattern=\"^[^\\s@]+@[^\\s@]+\\.[^\\s@]+$\" required=\"\" type=\"email\" \/><label for=\"subscribe_email_content\">Your e-mail address<\/label><\/div>\n<div class=\"form-actions d-flex\"><input class=\"btn d-flex align-items-center justify-content-center\" type=\"submit\" value=\"Sign up\" \/><\/div>\n<\/form>\n<\/div>\n<\/section>\n<p>The group\u2019s turnover for the continuing operation was $71.28m, up 37.61% from $51.80m in 2020.<\/p>\n<p>The increase in turnover was mainly due to rental income generated from the leased properties and an increase in loan interest income from the money lending business.<\/p>\n<p>Moving forward, China Properties is looking to further expand its portfolio by identifying premises in Shanghai.<\/p>\n<p>\u201cThe group will keep on expanding the properties investment business so as to enhance the rental incomes of the group,\u201d China Properties said in its report.<\/p>\n<p>\u201cIn the meantime, the group will remain focused on its money lending business which will generate a steady revenue stream for the group.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This followed a net loss of $92.5m in 2020. China Properties Investment Holdings Limited recorded a profit of $36.17m in the year ended March 2021, rebounding from the $92.59m loss in 2020. The company attributed this to the revenue increases in its property investment business&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[555],"tags":[561],"class_list":["post-795","post","type-post","status-publish","format-standard","hentry","category-hong-kong","tag-china-properties"],"yoast_head":"\n<title>China Properties profit rebounds to $36.17m in 2021 - Grand City Investment Ltd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/grandcityinvestment.com\/china-properties-profit-rebounds-to-36-17m-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Properties profit rebounds to $36.17m in 2021 - Grand City Investment Ltd\" \/>\n<meta property=\"og:description\" content=\"This followed a net loss of $92.5m in 2020. 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