Million Cities Holdings Foresees Major Losses

Million Cities Holdings Ltd. (HK:2892) has released an update.

Million Cities Holdings Limited has issued a profit warning, anticipating a significant loss after tax for the first half of 2024, ranging from RMB 60.0 million to RMB 75.0 million. This contrasts sharply with the RMB 12.1 million profit recorded in the same period of 2023, primarily due to a substantial decrease in property sales revenue. Investors are advised to exercise caution and await the detailed interim results expected by August 31, 2024.

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