Kong Sun Holdings Limited (HK:0295) has released an update.
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Kong Sun Holdings Limited has issued a profit warning indicating an expected net loss of between RMB 150 to 200 million for the first half of 2024, a significant increase from the RMB 4.18 million loss in the same period of the previous year. This downturn is attributed to reduced dividend income, higher administrative expenses, and increased losses from joint ventures and associates. The company cautions shareholders and potential investors to await the official interim results announcement planned for publication by the end of August 2024.
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