During the FY2022, Yanlord’s revenue and gross profit also fell by 18% and 13% y-o-y to RMB28.7 billion and RMB7.8 billion respectively.
Analysts have downgraded their take on Yanlord Land Group (SGX:Z25
) after the group’s earnings for the FY2022 ended Dec 31, 2022, fell by 42% y-o-y to RMB1.53 billion ($298.0 million).
The results “disappointed and missed [the] expectations” of the team at OCBC Investment Research (OIR), which kept its “hold” call on the stock.
