Home > > Suncity Group Holdings Limited reports a profit of RMB320 million for 1H 2021

Suncity Group Holdings Limited reports a profit of RMB320 million for 1H 2021

09/03/2021| 1:04:34 PM|

Revenue from continuing operations in 1H 2021 was approximately RMB148.8 million.

The Group recorded a profit attributable to equity holders of the Company of RMB320.0 million for the six months ended 30 June 2021 ("1H 2021"), significantly turnaround from loss attributable to equity holders of the Company of RMB(118.6) million. Consolidated Adjusted EBITDA from continuing operations was approximately negative RMB(33.7) million versus approximately negative RMB(44.5) million for the six months ended 30 June 2020 ("1H 2020").

The profit attributable to equity holders of the Company in 1H 2021 was mainly attributable to (i) the gain on change in fair value of derivative financial instruments of approximately RMB449.4 million; (ii) profit for the period from discontinued operations of approximately RMB147.1 million, including the gain on disposal of the entire equity interest in Access Achievement Limited of approximately RMB167.9 million; and (iii) partially offset by costs and expenses from continuing operations of (a) finance costs of approximately RMB123.1 million; and (b) share of loss of a joint venture of approximately RMB139.9 million.

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