Cheuk Nang Forecasts Soaring Profits for FY2024

Cheuk Nang (Holdings) Limited (HK:0131) has released an update.

Cheuk Nang (Holdings) Limited announced a projected profit for FY2024 ranging from HK$150 million to HK$170 million, a significant increase from FY2023’s HK$21 million. The rise in profits is primarily due to resumed property sales in Shenzhen, property sales profits in Hong Kong, a substantial tax refund for the Shenzhen Project, despite increased finance costs and fair value loss of investment properties. The final results are pending review and will be published on 24 September 2024, and shareholders are advised to exercise caution when dealing in company shares.

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