Neway Group Anticipates Narrowed Losses in 1H 2024

Neway Group Holdings Limited (HK:0055) has released an update.

Neway Group Holdings Limited has issued a profit warning, expecting a loss of HK$35.0 million to HK$50.0 million for the first half of 2024, showing an improvement from the HK$57.3 million loss in the first half of 2023. The company attributes the loss primarily to fair value losses on trading investments and investment properties, as well as from property development and manufacturing sales segments. Shareholders and potential investors are cautioned to be prudent when dealing with the company’s shares.

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