LVGEM (China) Real Estate Investment Company Limited (HK:0095) has released an update.
LVGEM (China) Real Estate Investment Company Limited reported a significant loss for the six months ending June 30, 2024, with unaudited results showing a loss of RMB 1.61 billion, deepening from RMB 580 million in the same period of 2023. The company experienced a substantial increase in finance costs and fair value changes on investment properties. Despite revenue growth, the company faced a decline in gross profit and other income, resulting in a basic and diluted loss per share of 29.98 RMB cents.
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