According to the Zhitong Finance App, China Shangcheng (02330) announced the results for the year ended December 31, 2023. The group achieved revenue of 4.442 million yuan (RMB, same below) during the period, a year-on-year decrease of 92.68%; loss attributable to shareholders was 46.231,000 yuan, a decrease of 17.1% year-on-year; and a basic loss of 18.17 points per share.

According to the announcement, losses attributable to shareholders were due to a drastic reduction in revenue from property sales and impairment losses confirmed by holding the sold property.