China New Town Posts Higher Mid-Year Profits

China New Town Development Co. Ltd. (HK:1278) has released an update.

China New Town Development Co. Ltd. has reported a slight increase in operating profit to RMB 90,413 thousand for the first half of 2024, up from RMB 76,510 thousand in the same period the previous year, despite a marginal dip in overall revenue. The company’s unaudited interim results also show a profit before tax of RMB 83,262 thousand, marking an improvement over the prior year’s RMB 71,221 thousand. This financial growth is attributed to lowered operating expenses and a reversal of impairment losses on financial assets.

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