Zhitong Financial App News, Fuyuan International Group (00542) announced its unaudited results for the year ended December 31, 2021. The company realized an income of HK $16.468 million, down 26% from the same period last year. The loss attributable to shareholders was HK $326 million, an increase of 50% over the same period last year.
According to the announcement, the loss was due to, among other things, an increase in financial costs resulting from borrowing to finance certain property development projects and an increase in sales commission payable to property agents.