Chevalier International Holdings Limited (HK:0025) has released an update.
Chevalier International Holdings Limited has issued a profit warning, forecasting a loss for the year ending March 31, 2024, in the range of HK$300 million to HK$400 million, a stark contrast to the HK$258 million profit reported in the previous year. The anticipated loss is attributed to various factors including provisions for property development, investment losses, goodwill impairment, and decreased investment property values, though these are non-cash accounting losses and the company maintains a solid financial position. Shareholders and potential investors are advised to be cautious when dealing in the company’s shares.
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