China City Infra Reports Mixed Mid-Year Financials

China City Infrastructure Group Limited (HK:2349) has released an update.

China City Infrastructure Group Limited reported a decrease in revenue to HK$25,594,000 for the first half of 2024 compared to the same period last year, attributing the drop to its property investment and management businesses. Despite the lower revenue, the company’s gross profit margin improved to 68.2%, although a fair value loss on investment properties contributed to a net loss of approximately HK$36,433,000. Total assets stood at HK$1,183,841,000 as of June 30, 2024.

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