Capital Grand (01329.HK) announced that for the six months ended June 30, 2024, the group is expected to record a net loss attributable to shareholders of the company of no more than about RMB 0.151 billion, while for the six months ended June 30, 2023, a net income attributable to shareholders of the company of about RMB 87 million was recorded.

In the first half of 2024, the revenue and gross profit of the Group's main business of outlet malls have both increased slightly compared to the same period last year. The net loss recorded during the reporting period is mainly due to the decrease in the appraisal value of the Group's investment properties compared to the previous year. The appraisal value of the investment properties in 2023 contributed approximately RMB 0.349 billion to net income, mainly from the appraisal value of the Wuhan and Jinan projects disposed of by the Group in 2023. The group expects the investment properties' appraisal value to contribute approximately RMB 4 million to net income in the first half of 2024.