According to the Zhitong Finance App, Qingdao Holdings (00499) announced its 2023 results, with total revenue of 42.355 million yuan, a year-on-year decrease of 25.26%; parent company owners should have accounted for a loss of 473.24 million yuan, a year-on-year decrease of 25.5%; and a loss of 4.74 points per share.

According to the announcement, the loss was mainly due to unfavorable property market conditions. The fair value of the Group's investment properties, especially those located in China, was drastically reduced; rental income from Chinese properties was drastically reduced.