Wanda Hotel Anticipates Sharp Turn to Losses

Wanda Hotel Development Company (DE:CL1A) has released an update.

Wanda Hotel Development Company Limited has issued a profit warning, expecting to report a net loss of HK$880 million to HK$930 million for the first half of 2024, a stark contrast to the HK$165 million net profit from the same period in 2023. The anticipated loss mainly stems from an impairment loss from the deferred amount of a past project disposal, but the company reassures shareholders that its overall financial position remains strong. Investors are urged to exercise caution when dealing with the company’s shares.

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