Zhenro Services (HKG:6958) expects an attributable loss of up to 300 million yuan for the year 2024, up from 81 million yuan a year prior, a Wednesday filing with the Hong Kong bourse said.

The property manager attributed the wider anticipated loss mainly to an impairment of goodwill as some contracts of units could not be renewed leading to a lower revenue and profit for the units, as well as a decline in collection rate for real estate companies.