Nanyang Holdings Projects Mid-Year Losses

Nanyang Holdings Limited (HK:0212) has released an update.

Nanyang Holdings Limited has issued a profit warning, indicating an anticipated loss of HK$44 million for the first half of 2024, a stark contrast to the HK$126 million profit from the same period last year. This loss is primarily due to fair value losses on investment properties, offsetting this, the Group would have reported a profit of HK$99 million if these losses weren’t considered. Investors are urged to exercise caution when dealing with the company’s shares, with final results to be published in late August 2024.

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