China South City Expects Significant H1 2024 Losses

China South City Holdings Limited (HK:1668) has released an update.

China South City Holdings Limited has issued a profit warning, anticipating a loss after tax of approximately HK$4 billion to HK$4.5 billion for the first half of 2024. The expected loss is attributed to a combination of decreased property sales, fair value losses on investment properties, increased inventory impairment provisions, higher finance costs, and reduced rental income. Shareholders and potential investors are cautioned to exercise prudence in dealing with the company’s securities and to seek professional advice.

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