Yanlord reports net loss of RMB934m loss for FY23

The company attributed the loss to an increase in fair value loss on investment properties.

Yanlord recorded a loss attributable to owners of the Company of RMB934m ($176.8m) in FY23.

Loss for the year was RMB722m ( $137m).

In a bourse filing, the company attributed its losses to the increase in fair value loss on properties and net impairment losses on financial assets.

On the flip side, the company recorded a 51.5% YoY revenue increase to RMB43.395b ($8.2b) in FY23.

Income from property development also grew by 54.3% YoY to  RMB38.138b ($7.2b) in FY23 due to a higher average selling price per sqm.

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