Reported 9 months ago
Changhong Construction (5534) held a shareholders' meeting approving a 13% increase in revenue to 9,798.136 million yuan and a 34% decrease in net profit to 1,835,927 million yuan for the 112th year. Chairman Lee Wenzao expressed concerns over rising construction costs affecting profits and urged a return to market mechanisms. Despite holding 11 projects worth a total of about 72 billion yuan, the company is focusing on a cautious approach with the release of four main projects, targeting sales challenges of 30 billion yuan in the greater Taipei area.
Source: YAHOO