Chinese Estates (Holdings) (HK:0127) has released an update.
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Chinese Estates Holdings Limited reported a significant swing to a loss for the six-month period ending June 30, 2024, with unaudited consolidated interim results revealing a loss of HK$422 million compared to a profit of HK$146.7 million in the same period last year. The company faced a substantial drop in revenue from HK$270.6 million to HK$195.1 million and encountered a loss in fair value changes on investment properties, which starkly contrasted the previous year’s gain. Comprehensive income also plummeted, resulting in a total comprehensive expense for the period of HK$514.7 million.
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