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27/01/2021 17:35

China New Town (01278) expects to record year loss

[ET Net News Agency, 27 January 2021] China New Town Development Company Limited
(01278) said the group is expected to record a net loss of approximately RMB245 million
for the twelve months ended 31 December 2020, as compared with a net profit of
approximately RMB111.35 million for the twelve months ended 31 December 2019.
It was mainly due to the provision of approximately RMB324 million for impairment of
risk assets related to the Nanchang Science and Technology Park Project of Chinese Academy
of Sciences and Qinhuangdao Shanty-town Reformation Projects. (RC)

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