Glory Sun Land Group (HKG:0299) expects to post a consolidated net loss of up to HK$2.3 billion for 2024, widening from an HK$828 million loss a year earlier, the company said in a Wednesday filing on the Hong Kong Exchange.
The property developer said the loss reflects a sharp decline in sales from its China real estate and property investment segment, higher write-downs on property inventories due to market weakness, a further drop in investment property values, and an impairment loss on a land redevelopment project.
Glory Sun reported a HK$1.57 billion loss for the first half of 2024.
Shares of the company fell nearly 4% in recent trade.
Price (HKD): $0.11, Change: $-0.0040, Percent Change: -3.54%
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。