Zhuguang (HKG:1176) forecasts its loss to widen to HK$3 billion in 2024 from HK$871 million in 2023, according to a Thursday Hong Kong bourse filing.
The property developer attributed the downbeat forecast to an increase in financial asset impairments from HK$250.4 million in 2023, as well as higher other net expenses compared with the HK$154.6 million logged in the previous year.
It also attributed the wider loss to higher fair value losses on investment properties from the HK$246.5 million recorded in 2023 and the lower revenue from project management services compared with HK$1.28 billion recognized in the previous year.
Zhuguang plans to release full-year results on April 9.
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