New Century Group Hong Kong Issues Profit Warning

New Century Group Hong Kong Limited (HK:0234) has released an update.

New Century Group Hong Kong Limited has issued a profit warning, forecasting a loss of up to HK$6 million for the six months ending September 2024, compared to a profit of HK$26 million in the same period last year. The loss is attributed to fair value losses on investment properties, increased provisions for impairment losses, and the absence of a previous gain from subsidiary disposal. Investors are advised to approach the company’s shares with caution.

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