Gelonghui June 28th 丨Zhuang Shi China (00298.HK) announced that for the year ended March 31, 2023, the company's revenue was HK$63.01 million, a year-on-year decrease of 69.19%; the company's shareholders' loss during the period was HK$329 million, compared to HK$228 million for the same period last year; the basic loss per share was HK$14.00 cents.

In the year under review, the Group completed the sale of properties located in Chang'an, Dongguan, China. This sale strengthened the Group's financial position. However, the Group's investment performance in listed corporate bonds continues to be adversely affected by poor market conditions in China's real estate bond industry.

In the review year, the Group had contracted property sales of around 5.7 million euros (equivalent to approximately HK$48.8 million), which is expected to be completed in the third quarter of 2023. At that time, the relevant sales amount will be confirmed as the Group's revenue.

The Group recorded a net cash amount of HK$511 million as of 31 March 2023. The Group's total cash reserves (including HK$98 million in bond investments) were HK$1,338 million and bank borrowings were HK$826 million.