According to the Zhitong Finance App, Xinda Holdings (08471) announced results for the year ended December 31, 2023, with revenue of 66.323 million yuan (RMB, same below), down 1.4% year on year; loss due to company owners was 21.634 million yuan, an increase of 220.8% year on year; basic loss per share was 2.55 points.

The increase in losses during the period was mainly due to depreciation of non-financial assets of approximately $9.9 million (2022: none); an increase in administrative expenses in 2023; and a decrease in gross margin.