Yanlord reports net loss of RMB934m loss for FY23
The company attributed the loss to an increase in fair value loss on investment properties.
Yanlord recorded a loss attributable to owners of the Company of RMB934m ($176.8m) in FY23.
Loss for the year was RMB722m ( $137m).
In a bourse filing, the company attributed its losses to the increase in fair value loss on properties and net impairment losses on financial assets.
On the flip side, the company recorded a 51.5% YoY revenue increase to RMB43.395b ($8.2b) in FY23.
Income from property development also grew by 54.3% YoY to RMB38.138b ($7.2b) in FY23 due to a higher average selling price per sqm.