Tern Properties Co. Ltd. (HK:0277) has released an update.
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Tern Properties Co. Ltd. has issued a profit warning, forecasting a significant loss of approximately HK$55.8 million for the six months ending September 2024, compared to a profit of HK$10.5 million in the previous year. This negative shift is primarily due to a substantial increase in fair value loss on investment properties and a decrease in net reversal of impairment loss on debt instruments. Investors are urged to exercise caution when dealing in company shares.
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