Greenland Holdings reports loss, plans no dividend for 2024

Greenland Holdings Corporation (SSE: 600606) reported a CNY15.55 billion loss attributable to shareholders for 2024, a sharp contrast to the prior year's CNY9.55 billion loss. The company's revenue declined significantly, dropping 33.20% to CNY240.64 billion. In light of these results, the board has decided not to distribute any cash dividend or issue bonus shares for 2024, nor will it increase share capital from capital reserves. The company's weighted average return on net assets also saw a substantial decrease. Amidst a challenging real estate market, Greenland is focused on stabilizing operations, promoting transformation, and preventing risks, with key strategies including asset revitalization and debt management.