Photo from Simon Zhu on Unsplash

Kaisa Prosperity gross profit climbs 2.2% YoY in FY23

Total GFA under management amounted to 102.3 million sq.m.

Kaisa Prosperity reported a gross profit of approximately $526.77m (RMB481.3m) for the year ended 31 December 2023, reflecting a 2.2% year-on-year (YoY) increase from $511.85m (RMB471.1m) in 2022.

The group’s total revenue grew to $1.95b (RMB1.8b) for FY23, of which revenue from property management services went up at 7.2% YoY to $1.46b (RMB1.34).

Gross floor area (GFA) under management rose 8.2% to 102.3 million sq.m., whereas projects under management have grown from 673 to 720, establishing a presence in 74 cities in 19 provinces.

The group managed about 60.4 million sq.m. GFA  of properties developed by independent third-party property developers. 

Join Hong Kong Business community

Revenue of projects for properties developed by independent third-party developers reached $886.34m (RMB810.1m), signifying a 16.1% growth.

Cash and cash equivalents increased by 16% to $313.81m in FY23, whereas the consolidated gross profit margin improved from 26.4% to 26.8%.

(RMB1 = HK$1.09).

Follow the link for more news on

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

AXA launches digital insurance with Ant Bank, AlipayHK tie-up
It will use AXA’s portfolio and Ant Bank and AlipayHK’s “E-wallet X Digital Bank”.
Insurance
Nomura gets SFC nod to offer five UCITS funds in Hong Kong
 The five authorised funds consist of three equity and two fixed-income funds.Nomura Asset Management Co., Ltd. has received authorisation from the Securities and Futures Commission (SFC) of Hong Kong to market five UCITS funds to retail investors. 
Markets
Hong Kong logistics rents dip 1.7% in Q1 2025
Leasing is expected to remain driven by renewals in the next few quarters.