Zhongzheng International Company Limited (HK:0943) has released an update.
Zhongzheng International Company Limited has issued a profit warning, anticipating a significant loss of HK$680 million to HK$720 million for the fiscal year 2023/24, a stark contrast to the HK$69 million profit in the previous year. The expected loss is largely due to a decrease in gross profit from property developments, impairment losses on investments, and increased finance costs. Following the disposal of its property development and investment interests in China, the company continues to have an interest in a property development project in Malaysia.
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