Chinney Investments Ltd. has announced its annual results for the year ended March 31, 2025. The Group's revenue declined by 7% to HK$1,027 million compared to HK$1,103 million in the previous year. This decrease was attributed to delays in booking sales revenue from the Guangzhou Beijing Road project and the postponed opening of the Bauhinia Central Hotel. The company reported a net operating loss before revaluation and impairment of goodwill amounting to HK$55.1 million, contrasting with a profit of HK$34.4 million the previous year. Additionally, the loss for the year was HK$713.2 million, significantly higher than the previous year's loss of HK$43.9 million. The property markets in Hong Kong and Mainland China have continued to struggle, leading to a 3.2% markdown in the Group's investment properties. Despite these challenges, Chinney Investments noted that their construction and trading businesses, particularly those involved in foundation works and aviation, performed well, exhibiting improved profit and growth against strong industry competition. Looking ahead, the company recognizes the substantial impact of heavy revaluation losses but remains optimistic that the market may have reached its lowest point, although a rapid recovery is not anticipated. The company plans to implement new strategies leveraging technology to return to profitability.
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