Jiachuang Real Estate (02421) released its annual performance for the year ending March 31, 2024, with revenue of 227 million yuan, a decrease of 68% year-on-year. Equity holders should have a surplus profit of 40.069 million yuan, a decrease of 78% year-on-year; basic earnings per share are 7.9 cents, and a final dividend of 2.0 Hong Kong cents per share is planned.

The significant decline in surplus profit during the period was due to external factors such as the slowing down of economic growth and the softening of the real estate market, which resulted in a decrease in property sales revenue and provision for inventory impairment loss.

As of March 31, 2024, the group's land reserve is about 242,500 square meters (as of March 31, 2023: 253,600 square meters), mainly including land parcels in the Hecheng area of Foshan, Guangdong, the fourth and fifth phases of Jiahui Haoting in Dongguan, and Luofu Mansion in Huizhou, China.