On June 27th, Gelonhui reported that Hua Yin Intl H (00989.HK) achieved revenue of RMB 116 million for the fiscal year ending on March 31, 2024, a decrease of 70.5% year-on-year. The gross profit was RMB 9.876 million, a decrease of 82.4% year-on-year. The company has a net loss of RMB 193 million for the year, compared to a net profit of RMB 366 million for the same period last year. The basic loss per share was RMB 0.0268.

The announcement stated that the group's revenue decreased by 70.5% year-on-year to RMB 116 million, mainly due to a 80% decrease in property sales compared to last year, or RMB 279 million. The property sales for the fiscal year ending March 31, 2024 decreased due to the lack of new completed property projects delivered during the year. The property sales mainly came from the remaining property units completed in previous years. As of March 31, 2024, the group confirmed that Guangze Jiuxi Red Mansion Phase I, Guangze Hongfu Phase I, II and III, and Guangze Lanting Phase I and IA had a total property sales of approximately RMB 67.1 million, with a total construction area of 13,050 square meters.