Wing Tai Properties Limited (HK:0369) has released an update.
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Wing Tai Properties Limited warns of a potential loss of HK$1,300 million to HK$1,400 million for the first half of 2024, a significant increase from the HK$374.2 million loss in the same period of 2023. This forecasted loss is attributed to a considerable drop in the fair value of investment properties and the impairment provision for properties under development. Despite these non-cash valuation changes, the company maintains that its operating cash flow and overall business health remain stable.
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