Grand Ming reports loss amid property market challenges

GRAND MING GROUP HOLDINGS LIMITED (HKEX:1271) announced a net loss of HKD292.1 million for the year ended 31 March 2025, a stark contrast to the previous year's profit of HKD298.5 million. The downturn is primarily attributed to impairment losses on property under development and completed properties held for sale, totaling HKD180.7 million, as well as a fair value loss on investment properties and properties under development of HKD120.7 million amid unfavorable market conditions. Revenue increased by 115% to HKD1,145.8 million, driven by sales of units in The Grand Marine and The Grands projects.