Central China Real Estate (DE:AJ5) has released an update.
Central China Real Estate Limited has issued a profit warning, anticipating a substantial increase in losses for the first half of 2024, estimated between RMB2.5 billion to RMB3.5 billion, compared to the previous year’s RMB1.2 billion. The increased losses are primarily due to the current macroeconomic challenges and a sluggish property market, leading to inventory impairments and lowered revenue and profit margins. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.
For further insights into DE:AJ5 stock, check out TipRanks’ Stock Analysis page.