Talent Property Group (HKG:0760) expects a wider attributable loss of between 120 million yuan and 170 million yuan for the year 2024, compared with 33.8 million yuan a year prior, a March 21 filing with the Hong Kong bourse said.
The property company attributed the wider anticipated loss mainly to a 400 million yuan reduction in revenue from the sales of completed units in the Xuzhou Linan Intelligent Industrial Park as most units pre-sold in previous years were delivered and recognized as revenue in 2023.
Additional reasons for the wider loss included a lower gross profit and a share of loss from an associate.
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