On June 18th, Growth Enterprise Market announced that Jia Chuang Real Estate (02421.HK) had revenue of RMB 227 million for the fiscal year ending March 31, 2024, a decrease of 68% year-on-year. The company's attributable profit to equity shareholders was RMB 40.069 million, a decrease of 78% year-on-year. Basic earnings per share were RMB 7.9, with a proposed final dividend of HK 2.0 cents per share.

The significant decline in profits was due to: (i) external factors such as slowing economic growth and a weak real estate market resulting in a decrease in property sales revenue, and (ii) provision for inventory impairment loss.

As of March 31, 2024, the group's land reserves were approximately 242,494 square meters (as of March 31, 2023: 253,594 square meters), mainly including land in the Hecheng area of ​​Foshan, China, Phase IV and V of Jiayuan Haoting in Dongguan, and Luofu Mansion in Huizhou.