Zhuguang Holdings Group Co., Ltd. (HK:1176) has released an update.
Zhuguang Holdings Group Co., Ltd. reported a significant loss for the first half of 2024, with revenues declining across property development, project management services, and property investment and hotel operation compared to the previous year. The global economic pressures, such as high inflation and geopolitical conflicts, have impacted the company’s performance, despite accommodative policies by the Chinese government towards the real estate sector. The company is focusing on urban renewal projects and partnerships to maintain its competitive edge as it navigates through the current economic climate.
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