Powerlong Commercial Management Holdings Limited (HK:9909) has released an update.
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Powerlong Commercial Management Holdings Limited has issued a profit warning, indicating a decrease in net profit by approximately 23.5% to 25.1% for the first half of 2024, despite an increase in revenue. The decline is attributed to prudent impairment provisions amid a real estate liquidity crisis and increased marketing costs due to heightened competition. Shareholders and investors are cautioned to await the detailed interim results expected by the end of August 2024.
For further insights into HK:9909 stock, check out TipRanks’ Stock Analysis page.