Beijing Capital Grand Limited (HK:1329) has released an update.
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Beijing Capital Grand Limited alerts shareholders and potential investors to a projected net loss of no more than RMB151 million for the first half of 2024, a stark contrast to the net profit of RMB87 million in the same period the previous year. Despite a slight uptick in outlet business revenue and gross profit, the loss is mainly due to a significant drop in the valuation appreciation of the Group’s investment properties, down from a substantial contribution in 2023. Investors are cautioned to exercise care when dealing in the company’s securities ahead of the detailed interim results announcement expected on August 22, 2024.
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