MILLION CITIES announced its interim results, with a loss attributable to equity shareholders of RMB 2.2 million, a year-on-year narrowing of 96.4%
MILLION CITIES announced its mid-term results for 2025, with revenue of 41.4 million yuan, a year-on-year decrease of 10.2%; gross profit of 16.5 million yuan, a year-on-year increase of 11.5%; loss attributable to equity shareholders of 2.2 million yuan, a year-on-year narrowing of 96.4%; loss per share of 0.29 cents. The reduction in loss was mainly due to the recognition of impairment provisions for other receivables from joint ventures and accrued interest payable, as well as a significant decrease in administrative expenses and income tax
According to the Zhitong Finance APP, Million Cities Holdings (02892) announced its interim results for 2025, with revenue of HKD 41.4 million, a year-on-year decrease of 10.2%; gross profit of HKD 16.5 million, a year-on-year increase of 11.5%; loss attributable to equity shareholders of HKD 2.2 million, a year-on-year narrowing of 96.4%; and loss per share of HKD 0.29.
The announcement stated that the reduction in loss was mainly due to the company recognizing impairment provisions for other receivables from its joint ventures in the first half of 2024; and the company's joint ventures making provisions for interest payable. The company did not recognize such impairments or make related provisions in the first half of 2025. In addition, administrative expenses and income tax significantly decreased compared to the same period last year. Therefore, the company recorded a substantial reduction in loss attributable to equity shareholders for the six months ended June 30, 2025
