Radiance Holdings' stock plummeted 5.22% during intraday trading on Wednesday, following the release of its annual financial results which revealed significant losses and a sharp decline in revenue.

The company reported a net loss of RMB 7.9 billion for the fiscal year, though this represented a 21% narrowing from the previous year. Revenue fell dramatically by 42.7% to RMB 14.2 billion, primarily due to weak market sentiment in China's real estate sector and ongoing industry adjustments that pressured selling prices.

Management noted that property development sales revenue decreased by approximately 43.4%, while property leasing income declined by 12.6% due to lower-than-expected occupancy rates and rental levels. Despite the challenging results, the company's gross margin improved and total interest-bearing debts declined by 4.6% to RMB 23.5 billion.