DTXS Announces Major Property Write Down

DTXS Silk Road Investment Holdings Company Limited (HK:0620) has released an update.

DTXS Silk Road Investment Holdings Company Limited reported a significant write down of HK$178,564,000 for properties under development and for sale, mainly due to a discrepancy between the management’s valuation and an independent appraisal by JLL. Despite successful sales in the previous year and enhancement works aimed at increasing property value, the company recognized a lower-than-expected value, resulting in the write down for the fiscal year ending December 31, 2023.

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