Tai Sang Land Anticipates Major Mid-Year Losses

Tai Sang Land Development Limited (HK:0089) has released an update.

Tai Sang Land Development Limited has issued a profit warning, anticipating a significant shift from a consolidated profit of HK$146.5 million in the first half of 2023 to a consolidated loss of around HK$170 million for the same period in 2024. This loss is primarily due to fair value losses on investment properties, coupled with an increase in underlying loss from HK$5.5 million to HK$20 million, attributed to rising interest expenses. Shareholders and potential investors are urged to exercise caution when dealing with the company’s shares.

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