Lisi Group (Holdings) Limited (HK:0526) has released an update.
Lisi Group (Holdings) Limited has issued a profit warning, indicating that it expects a significant decrease in profit for the fiscal year ending March 2024, with a projected profit not exceeding RMB 340 million compared to the previous year’s RMB 2,337.5 million. This anticipated drop is mainly due to one-time gains in the previous year, a decline in land resumption gains, revaluation losses on investment properties, and impairment losses on financial assets due to economic slowdown and a sluggish property market. The company has advised shareholders and potential investors to exercise caution when dealing in its shares.
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