Chinney Investments, Limited (HK:0216) has released an update.
Chinney Investments, Limited has issued a profit warning, alerting shareholders and potential investors to an anticipated loss of HK$65 million for the fiscal year ending March 31, 2024, a significant downturn from the HK$33 million profit of the previous year. The loss is attributed to non-cash fair value losses on investment properties and increased finance costs due to rising interest rates. The company advises caution in dealing with its shares and will publish the finalized annual results by late June 2024.
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