Hongkong Chinese Limited Forecasts Significant Loss

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

Hongkong Chinese Limited has issued a profit warning, anticipating a consolidated loss of at least HK$400 million for the first half of 2024, a stark contrast to the HK$89 million profit from the previous year. The loss is primarily due to an expected impairment loss from an equity-accounted investee in the property sector, reflecting the economic downturn in mainland China. Shareholders and potential investors are urged to be cautious when trading company shares.

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