Top Spring International Holdings Limited (HK:3688) has released an update.
Top Spring International Holdings Limited has issued a profit warning, anticipating a significant net loss of HK$500 million to HK$600 million for the first half of 2024, a stark contrast to the HK$4 million net profit in the same period the previous year. The expected loss is primarily due to a substantial decrease in gross profit, impairments of investment in associates, and fair value losses on investment properties. The company advises shareholders and potential investors to exercise caution and not to rely on these preliminary results when dealing in the company’s securities.
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