China New City Commercial Development Ltd (HK:1321) has released an update.
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China New City Commercial Development Ltd has issued a positive profit alert, forecasting a substantial turnaround with an expected net profit of RMB300 million to RMB400 million for the first half of 2024. This marks a significant improvement from a net loss of RMB72 million in the same period last year, attributed to strong sales in the IOC project and enhanced cost management strategies. Investors are cautioned to trade carefully pending the release of the full interim results on August 23, 2024.
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