Guangdong Land Holdings Limited (HK:0124) has released an update.
Guangdong Land Holdings Limited has issued a profit warning, anticipating an unaudited loss of up to HK$200 million for the nine months ending September 30, 2024, a significant increase from the HK$67.88 million loss in the same period of 2023. The company attributes the larger loss to decreased fair value gains on investment properties, lack of gains from property disposals, lower profit margins from recent property deliveries, increased net finance costs, and no impairment provisions needed. Shareholders and potential investors are advised to exercise caution, as the final results are pending and may be subject to adjustments.
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