Hongkong Chinese Limited Forecasts Major Losses

Hongkong Chinese Limited (HK:0655) has released an update.

Hongkong Chinese Limited has issued a cautionary note to shareholders and potential investors following a preliminary assessment that predicts a significant loss of at least HK$400 million for the first half of 2024. This loss contrasts sharply with the HK$90.6 million profit reported in the same period of the previous year, primarily due to impairment losses in Chinese property investments by OUE Limited, a subsidiary of the company’s principal joint venture. The company emphasizes that these are non-cash losses and reassures that there will be no substantial impact on OUE Group’s operational cashflows or funding requirements.

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