Times China Holdings (HK:1233) has released an update.
Times China Holdings Limited warns of a substantial net loss between RMB2.8 billion and RMB3.2 billion for the first half of 2024, a significant increase from the previous year’s RMB1.69 billion loss. The downturn is attributed to reduced revenue from project sales amidst a sluggish Chinese real estate market and a rise in asset impairment charges. Shareholders and potential investors are cautioned to exercise prudence when dealing with the company’s securities.
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