Midea Real Estate Holding Limited (HK:3990) has released an update.
Midea Real Estate Holding Limited has issued a profit warning, anticipating a significant drop in net profit and core net profit for the first half of 2024 compared to the same period in 2023. The projected decline is attributed to reduced delivery area amidst a sluggish real estate market, low gross profit projects, and increased impairment provisions. Investors are cautioned to be prudent with the company’s securities ahead of the interim results due around 16 August 2024.
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