According to the Zhitong Finance App, Beststar Holdings (01168) announced results for the year ended December 31, 2023. The group achieved revenue of HK$361 million during the period, a decrease of 5% over the previous year; losses due to company owners were HK$278 million, an increase of 95.38% over the previous year; and the basic loss per share was HK4.37 cents.

The announcement said that since entering the post-pandemic period in early 2023, economic recovery has not been as good as expected, and the real estate industry is still in a difficult period. In order to complete the renewal of existing tenants and attract new tenants, the Group has reduced unit rents. The main reason for the decrease in total revenue was the rent reduction and the low occupancy rate of the “Bestar Tower” office building.