Zhong Hua International Holdings Limited (HK:1064) has released an update.
Zhong Hua International Holdings Limited has issued an update on its previous loss warning, revealing a substantial increase in its expected net loss for FY 2023 to approximately HK$1.739 billion, up from the initial estimate of HK$100 million. The increase is largely due to a loss on de-recognition of subsidiary GZ Zheng Da and a revaluation deficit in the Group’s investment property portfolio. The company cautions that these provisional figures could be subject to further adjustments based on updated financial information and valuations.
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