Jujiang Construction Group Co., Ltd. Class H (HK:1459) has released an update.
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Jujiang Construction Group Co., Ltd. warns of a potential decrease in net profit ranging between 40% to 60% for the first half of 2024, citing a downturn in the property market and increased impairment losses as primary reasons. The preliminary financial data, which has not yet been audited, suggests both revenue and gross profit have also fallen. Investors are advised to exercise caution and look forward to the interim results announcement due on 16 August 2024.
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