Yuzhou Group Holdings Co., Ltd. (HK:1628) has released an update.
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Yuzhou Group Holdings Co., Ltd. has issued a profit warning, expecting a significant decrease in revenue and a net loss for the first half of 2024, primarily due to a downturn in the real estate market and increased financial costs. The projected revenue is about 49% lower than the previous year, and the estimated net loss is between RMB 7.5 to 8.5 billion. The company cautions shareholders and potential investors to exercise care when dealing with its shares, as these are preliminary figures and the final results are yet to be published.
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