According to the Zhitong Finance App, Pelipo Holdings (00617) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$2,806 billion, a year-on-year decrease of 29.9%; shareholders of the parent company should have accounted for a loss of HK$1,042 billion during the year, an increase of 378.6% over the previous year; and a loss of HK$1.01 per share.

Although the Group's two main business operations (including property business and hotel business) continued to be profitable, its profit contribution during the year was relatively small compared to 2022, particularly the property business affected by unfavorable conditions in the real estate markets of Hong Kong and mainland China. Furthermore, due to the sharp rise in interest rates in Hong Kong, China (particularly in the second half of last year), the Group's financing costs increased significantly, and large depreciation charges had to be charged for the Group's hotel properties in order to comply with applicable accounting standards, resulting in increased losses achieved by the Group during the year under review.