Lippo Limited Projects Steep Loss Amid Market Slowdown

Lippo Limited (HK:0226) has released an update.

Lippo Limited warns of a significant loss anticipated for the first half of 2024, with an estimated loss of not less than HK$400 million, a stark contrast to the HK$90.2 million profit reported in the same period of 2023. The loss is mainly due to its subsidiary OUE Limited’s impaired investments in the challenging Chinese property market, which is undergoing a slowdown. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

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