Powerlong Commercial Anticipates Profit Drop

Powerlong Commercial Management Holdings Limited (HK:9909) has released an update.

Powerlong Commercial Management Holdings Limited has issued a profit warning, indicating a decrease in net profit by approximately 23.5% to 25.1% for the first half of 2024, despite an increase in revenue. The decline is attributed to prudent impairment provisions amid a real estate liquidity crisis and increased marketing costs due to heightened competition. Shareholders and investors are cautioned to await the detailed interim results expected by the end of August 2024.

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