Cosmopol Int'l Group Limited ("Cosmopol Int'l") recorded a shareholder's comprehensive loss of HK$169,000,000 for the six months ended on June 30, 2024, an increase from HK$98,300,000 loss in the same period of 2023. The increase in loss was primarily due to the revision of the project development cost allocation criteria adopted by the group in China, leading to an increase in tax expenses, as well as the weak real estate market in China, with reduced sales profits contribution from the development projects in Tianjin and Chengdu. Despite the central government's introduction of a series of loose policies and financial measures, the performance of the real estate market in China remains weak. The majority of residential units in the Cosmopol...Show More

Cosmopol Int'l Group Limited ("Cosmopol Int'l") recorded a shareholder's comprehensive loss of HK$169,000,000 for the six months ended on June 30, 2024, an increase from HK$98,300,000 loss in the same period of 2023. The increase in loss was primarily due to the revision of the project development cost allocation criteria adopted by the group in China, leading to an increase in tax expenses, as well as the weak real estate market in China, with reduced sales profits contribution from the development projects in Tianjin and Chengdu. Despite the central government's introduction of a series of loose policies and financial measures, the performance of the real estate market in China remains weak. The majority of residential units in the Cosmopol International New City in Chengdu have been sold, and all other residential units in the Cosmopol New Gateway development project in Tianjin have been sold in previous years. Looking ahead, the group will closely monitor the market environment and hopes to obtain substantial profits from the development projects in Chengdu and Tianjin.