China SCE Group Holdings (HK:1966) has released an update.
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China SCE Group Holdings Limited has issued a profit warning, indicating an expected loss of RMB 3.5 to 3.8 billion for the first half of 2024. This loss is significantly higher than the RMB 1.1 billion loss reported in the same period of the previous year, attributed to declining property selling prices and reduced demand for commercial properties. Investors are advised to exercise caution when dealing in the company’s shares.
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