Zhenro Properties Expects Increased H1 Losses

Zhenro Properties Group Limited (HK:6158) has released an update.

Zhenro Properties Group Limited anticipates a significant loss for the first half of 2024, estimating a loss of RMB2,200 million to RMB2,400 million, which is a substantial increase from the previous year’s RMB1,464 million. This downturn is due to a combination of higher sales costs, lower selling prices, increased finance costs, and substantial impairment losses on properties. Investors are advised to exercise caution and await the upcoming interim results announcement for more concrete details.

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