Vanke Overseas (01036.HK) announced that for the six months ended June 30, 2024, it achieved a revenue of 0.165 billion Hong Kong dollars, a decrease of 9.15% year-on-year; gross profit was 73.281 million Hong Kong dollars, a decrease of 20.6% year-on-year; the company's shareholders recorded a loss of 29.323 million Hong Kong dollars, compared to a profit of 2.535 million Hong Kong dollars in the same period of the previous year; basic and diluted loss per share was 0.08 Hong Kong dollars.

During this period, the group's income mainly comes from: (i) leasing units and parking spaces in Le Regent Centre; (ii) renting hotel rooms and serviced residences in Starry Residence (completed and operated in September 2023); and (iii) providing asset management services. The income for this period was approximately 0.165 billion Hong Kong dollars, a decrease of 9% compared to the same period in 2023. The overall decline in the group's income is mainly due to the comprehensive impact of the following factors: (i) Starry Residence started operating in September 2023, resulting in increased income, but the income decreased due to the following factors; (ii) there was no interest income from investment instruments during this period, as the principal of the investment instruments that provided funds for the development of the property at 25 Park Row, New York, USA, was fully recovered in the previous fiscal year, and as of December 31, 2023, the group no longer has any equity in the investment instruments; and (iii) the decrease in income from asset management services, as the contracting parties of Vanke Hong Kong reduced their investment capital in projects related to the United Kingdom and the United States.