Financial News app reports that Zhongjia Guoxin (00899) has released its annual results for the year ending March 31, 2024. The group's revenue is HKD 14.16 million, a decrease of 36.27% compared to last year. The loss attributable to shareholders is HKD 8.347 million, a decrease of 96.61% compared to last year. The loss per share is HKD 0.009.

The announcement stated that the reduction of losses was mainly due to: (i) the transfer of some properties owned by the vendor to repay the deposit, resulting in the reversal of the impairment loss on the prepaid deposit for the acquisition of Beijing properties; (ii) the stability of the RMB exchange rate this year, which reduced the exchange losses on monetary assets and liabilities denominated in RMB; (iii) the impairment loss on intangible assets was reduced; (iv) the impairment loss on the equity of the associated companies was reduced; and (v) the lack of impairment losses on discontinued business assets from the previous fiscal year.