China Chengtong Development Group Limited (HK:0217) has released an update.
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China Chengtong Development Group Limited has announced an expected decrease in consolidated profit after tax by roughly 30% for the first half of 2024 compared to the same period in 2023. Factors such as global economic challenges, increased competition, and stricter industry regulation have contributed to this downturn, impacting the company’s leasing business and investment property valuation. Shareholders and potential investors are urged to be cautious when trading the company’s shares.
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