Wah Wo Holdings Group Limited (HK:9938) has released an update.
Wah Wo Holdings Group Limited has issued a profit warning, anticipating a consolidated net loss of HK$57.9 million for the fiscal year ended March 31, 2024, a significant decline from the previous year’s HK$2.9 million profit. The loss is attributed to non-cash fair value losses on investment properties, the winding up of a major customer, and increased impairment losses. Shareholders and potential investors are cautioned to exercise care when dealing with the company’s shares.
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