Yida China Holdings Limited Reports 15.4% Drop in Revenue Amid Project Completions

Reuters
28 Apr
Yida China Holdings Limited Reports 15.4% Drop in Revenue Amid Project Completions

Yida China Holdings Limited reported its interim financial results, highlighting a revenue of RMB667 million for the period. This marks a year-on-year decrease of 15.4%, primarily due to the gradual exit of certain completed projects. The sales income from residential properties within and outside business parks, office properties, and standalone residential properties amounted to RMB176 million. Rental income generated from business parks contributed RMB244 million. A significant business update includes the establishment of the Yida China Industrial Finance Research Institute in March 2023, based in Shanghai. Since its inception, the Institute has conducted nearly 20 public courses and corporate training sessions across various cities, engaging over 200 companies, including participation from more than 100 senior management executives. In terms of asset management, the company plans to expedite destocking through sales and debt-for-property swaps and aims to revitalize idle assets via lease and sale. For land holdings, the company intends to accelerate asset realization through government re-acquisition and equity transfers, ensuring timely project delivery.

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