On March 23rd, Shui On Land (HK:00272) announced its 2022 annual performance. Due to a decline in property sales, the group’s revenue fell by 11% year-on-year to RMB 15.565 billion, and the net profit attributable to the parent company decreased by 45% to RMB 906 million.
Since the easing of pandemic-related restrictions, the sales and foot traffic of the group’s property portfolio have recovered to over 90% of the level in the same period of 2022 in the first two months of this year.
As the flagship commercial business unit of the group, Shui On Xintiandi recorded a 6% ye …
