‘Cunning but not so smart’: Trump targeted by Hong Kong-listed Chinese developer
- China Properties Group reports 42.3 per cent drop in interim net profit
- Says in report Trump will be defeated by Chinese people, ‘who possess the great wisdom of Mao Zedong’
A Chinese property developer used its interim result to condemn US President Donald Trump on Friday, even as it praised Chinese leader Mao Zedong.
China Properties Group, a Hong Kong-listed penny stock, reported a 42.3 per cent drop in its interim net profit for the first 6 months of this year. The company’s net profit attributable to owners slumped to 160.3 million yuan (US$175.9 million) for its biggest drop since 2017.
Although its financial performance was far from impressive, China Properties caught the attention of investors for the structure and content of its interim report.
Under the section “Business Review and Outlook”, a part of financial reports designed to let companies present an analysis of their business environment and plans, China Properties avoided any specific reference to its own situation.
It, however, chose to praise former British Prime Minister Winston Churchill, and said his vision, wisdom, courage, passion and kindness led the United Kingdom to victory in the second world war.
It went on to criticise Trump, calling him “cunning but not so smart”, and said he was doomed to be defeated by the Chinese people, “who possess the great wisdom of Mao Zedong”, such as “only wait for the right moment to take revenge” and “when two armies are at war, the one with righteous indignation will win.