Tokyo Chuo Auction Holdings Ltd. (HK:1939) has released an update.
Tokyo Chuo Auction Holdings Ltd. warns of an expected consolidated net loss of HK$27.0 million for the fiscal year ending March 2024, a significant increase from the previous year’s HK$8.3 million loss. The company attributes the worsening financial performance to decreased art auction revenues, impairment losses on financial assets, and equity-settled share-based payments. Shareholders and potential investors are urged to exercise caution when dealing in the company’s shares.
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