CSI Properties (HK:0497) has released an update.
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CSI Properties reported a significant loss of HK$914.6 million for the first half of 2024, driven by adverse shifts in property values and economic challenges in Hong Kong and Mainland China. The high interest rate environment continues to strain profitability, impacting both residential and commercial sectors, although some stabilization is noted in the office market. The company remains cautiously optimistic about potential improvements, focusing on asset sales and strategic financial management.
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