Oriental Enterprise Holdings Limited (HK:0018) has released an update.
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Oriental Enterprise Holdings Limited has issued a profit warning for the fiscal year ended March 31, 2024, expecting a significant decrease in profit to HK$65-80 million, down from HK$166.56 million the previous year. The company attributes this anticipated decline to sluggish local economic recovery impacting media business revenue, cessation of government subsidies, absence of property disposal gains, and decreased valuation of investment properties. Shareholders and potential investors are cautioned to exercise discretion when dealing in the company’s shares as the final results are pending publication by the end of June 2024.
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