China New City Reports Stellar Mid-Year Turnaround

China New City Commercial Development Ltd (HK:1321) has released an update.

China New City Commercial Development Ltd has reported a significant turnaround in their interim financial results for the first half of 2024, with revenues soaring by 256.9% and profits surging to RMB 347.5 million from a loss in the previous year. The company saw a remarkable increase in gross profit by 589.7% and a hefty rise in earnings per share from a loss to RMB 18.79 cents. Despite a slight decrease in total assets, net assets per share increased by 7.5%, indicating a solid financial performance.

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