Sing Holdings achieved a net profit of 9.779,000 yuan in fiscal 2024, an increase of 22.7% year-on-year.

After the closing of the market on Tuesday (February 18), Star Holdings released its results for the second half of the 2024 fiscal year ended at the end of December last year. According to the performance, the company achieved revenue of 10.175,000 yuan in the second half of fiscal year 2024, a year-on-year increase of 365%, and its annual revenue in fiscal year 2024 was 14.971,000 yuan, a year-on-year increase of 157%.

The net profit attributable to shareholders in the second half of fiscal year 2024 was RMB 7.5 million, and the full year was RMB 9.779,000, an increase of 22.7% year-on-year.

The company said that revenue growth in the second half of fiscal 2024 mainly came from sales revenue of six completed industrial real estate units and leasing revenue from investment properties.

Looking at the whole year, compared with only one industrial real estate unit for sale in fiscal year 2023, eight companies have completed industrial real estate sales in fiscal year 2024. The increase in rental income brought about by the company's occupancy rate of a service hotel in Melbourne also contributed to the annual revenue growth.

Star Holdings said that the sales revenue of the group's existing condominium development will only become confirmed revenue after the project obtains a temporary entry permit (TOP).

The company's stock price rose to 0.34 yuan after opening on Wednesday (19th), starting from 3.03%.