According to the Zhitong Finance App, Century City International (00355) announced annual results for 2023, with revenue of HK$2.81 billion, a year-on-year decrease of 29.8%; loss attributable to the company's shareholders' share holders was HK$670 million, an increase of 322.4% over the previous year; and a basic loss of HK23.23 cents per share.

The announcement stated that although the Group continued to make profits in its two major business operations (including property business and hotel business), 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.