Zhongliang Holdings Group Company Limited (HK:2772) has released an update.
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Zhongliang Holdings Group Company Limited forewarns its shareholders and potential investors of an anticipated loss ranging between RMB1.5 billion and RMB2.0 billion for the first half of 2024. This significant downturn is attributed to decreasing gross profit margins and impairments on property projects due to ongoing challenges in the Chinese real estate market. Investors are encouraged to exercise caution and await the detailed interim results announcement scheduled for late August 2024.
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