CHINA TANGSHANG (ASX: 00674) has announced its annual results for the period ending March 31. The group achieved revenue of HK$661 million, representing an increase of 13.81% year-on-year. The loss attributable to the company's owners was HK$77.1338 million, which is a reduction of 13.39% compared to the previous corresponding period. The loss per share was 2.25 HK cents.

The company stated that the loss was primarily due to the continued downturn in China's property development and sub-leasing investment markets. This led to a further decline in both revenue and gross profit margin from the group's property projects during the reporting period. Additionally, the group made impairment loss provisions for certain assets within the property development market. Furthermore, the company incurred compensation payments during the year related to the termination of leases with sub-tenants in the sub-leasing investment market.