Gemdale Properties & Investment (HK:0535) has released an update.
Gemdale Properties & Investment Corporation Limited has issued a profit warning, anticipating a significant loss of RMB 2 to 2.3 billion for the first half of 2024, contrasting sharply with a profit of RMB 562 million in the same period of 2023. The expected loss is primarily due to increased impairment losses on joint ventures and properties under development. Shareholders and potential investors are cautioned to be prudent when dealing with the company’s shares.
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