Paliburg Holdings Limited (HK:0617) has released an update.
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Paliburg Holdings Limited has issued a profit warning, anticipating a net loss of HK$676 million for the first half of 2024, a significant increase from the previous year’s HK$383.1 million loss, primarily due to a downturn in the real estate markets in Hong Kong and Mainland China. Despite this, the Group’s hotel business has seen a near 60% growth in operating profit before depreciation. Shareholders and potential investors are urged to exercise caution when dealing in the company’s shares.
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