CSI Properties (DE:OIHC) has released an update.
CSI Properties Limited has issued a profit warning, anticipating a significant loss of HK$420 million to HK$470 million for the fiscal year ending March 31, 2024, in stark contrast to the previous year’s profit of HK$336 million. The shortfall is primarily due to a disagreement over land premiums for a joint venture project, leading to an expected impairment loss. Shareholders and potential investors are advised to exercise caution when dealing with the company’s shares.
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