Greentown China (HKG:3900) forecasts its attributable profit to fall less than 50% in 2024 from 3.12 billion yuan in the year-ago period, according to a Monday filing with the Hong Kong exchange.
The foreseen decline is attributable to a downturn in the Chinese real estate market, leading to higher impairment losses, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.