Wong’s International Posts Significant Mid-Year Losses

Wong’s International Holdings (HK:0099) has released an update.

Wong’s International Holdings reports a substantial net loss of HK$388.9 million for the first half of 2024, citing a downturn in the commercial property market and decreased sales in its EMS Division. The loss contrasts sharply with the profit of HK$89.4 million in the same period last year. The company attributes the decline to increased provisions for property write-downs and fair value losses on investment properties.

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