China Chengtong Development Group (00217) announced interim results. Profit attributable to shareholders of HK$43.8 million increased 343.27% year-on-year

According to the Zhitong Finance App, China Chengtong Development Group (00217) announced interim results for the six months ended June 30, 2026. The group achieved a turnover of HK$339 million, an increase of 65.16%; profit attributable to company owners was HK$43.8 million, an increase of 343.27% year on year; profit per share was 0.74 HK cents.

The Group achieved profit before tax of approximately HK$66.58 million in the first half of 2026, an increase of 203 percent over the same period last year, mainly due to:

(1) The increase in the scale of the above leasing business and the acceleration in the delivery of property development and investment business led to a significant increase in net gross profit and interest income;

(2) The Group's sales rate and administrative rate decreased from 5% and 18% in the same period last year to 4% and 12% in the current period, respectively. The growth rate of sales expenses and administrative expenses was lower than the growth rate of revenue scale. The total amount of the two increased by only 10% to HK$52.09 million from HK$47.45 million in the same period last year;

(3) Bank of Hong Kong loan balances decreased, and current financing costs decreased by 49% to HK$3.61 million from HK$7.09 million in the same period last year.