Guangdong - Hong Kong Greater Bay Area (HKG:1396) expects an attributable loss of around 1.6 billion yuan for the year 2024, up from 1.22 billion yuan a year prior, a Tuesday filing with the Hong Kong bourse said.
The real estate developer attributed the wider anticipated loss mainly to the current sales prices falling below cost with a prolonged sell-through cycle, higher costs for the maintenance of unsold properties, and a lower gross profit margin.
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