Shenzhen Investment (HK:0604) has released an update.
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Shenzhen Investment Limited has issued a profit warning, anticipating a significant unaudited consolidated net loss between HK$1,000 million to HK$1,200 million for the first half of 2024. This expected loss, considerably larger than the HK$116.6 million loss during the same period last year, is attributed to factors including reduced gross profit margins, higher finance costs, and losses from joint ventures and changes in the fair value of investment properties. Shareholders and potential investors are advised to exercise caution and await the detailed interim results announcement by the end of August 2024.
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