Wai Hung Group Anticipates Significant Loss

Wai Hung Group Holdings Ltd. (HK:3321) has released an update.

Wai Hung Group Holdings Limited has issued a profit warning for the six-month period ending June 30, 2024, anticipating a net loss of at least MOP58.6 million, a significant decline from the MOP8.0 million loss recorded in the same period the previous year. The increased net loss is attributed to reduced revenue from fewer large projects, higher impairment losses on financial and contract assets, and increased administrative expenses. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.

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