HBFX issued a profit warning, expecting a net loss of 1.946 billion to 2.475 billion yuan for the fiscal year 2024, turning from profit to loss year-on-year
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HBFX expects a net loss of RMB 1.946 billion to RMB 2.475 billion for the fiscal year 2024, turning from profit to loss year-on-year. To quickly recover funds, the company has intensified market promotions, leading to fluctuations in the net realizable value of inventory and the fair value of investment properties, with an estimated loss provision of approximately RMB 2.08 billion to RMB 2.445 billion. In addition, due to cautious market expectations, the estimated loss amount is approximately RMB 176 million to RMB 278 million, totaling an impact on losses of approximately RMB 2.256 billion to RMB 2.723 billion
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