---
title: "SUCCESSUNIVERSE issued a profit warning, expecting a year-on-year decrease of approximately 40% to 50% in consolidated profit for 2024"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/231675608.md"
description: "SUCCESSUNIVERSE expects its consolidated profit for 2024 to decrease by approximately 40% to 50% year-on-year. The audited consolidated profit for the same period in 2023 was approximately HKD 169 million. The decrease in profit is mainly due to an increase in fair value losses on investment properties, write-downs on the carrying value of property inventory, impairment losses on leased land and buildings, and a decrease in profits from joint ventures related to the flagship investment project, Sixteen Port. These losses are all unrealized and do not affect the group's cash flow"
datetime: "2025-03-13T10:16:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/231675608.md)
  - [en](https://longbridge.com/en/news/231675608.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/231675608.md)
---

# SUCCESSUNIVERSE issued a profit warning, expecting a year-on-year decrease of approximately 40% to 50% in consolidated profit for 2024

According to the Zhitong Finance APP, SUCCESSUNIVERSE (00487) announced that it expects the group's unaudited consolidated profit for the fiscal year 2024 to decrease by approximately 40% to 50%, while the audited consolidated profit for the same period in 2023 was about HKD 169 million.

The announcement stated that the profit decrease is mainly due to the following factors: a significant increase in the fair value loss of investment properties during the period, as well as the write-down of the carrying value of the group's property inventory; the recognition of significant impairment losses on the carrying value of leased land and buildings classified as property, plant, and equipment; and a decrease in the profit attributable to the group's flagship investment project, Sixteen Pu, related to its joint ventures. The aforementioned fair value loss of the group's investment properties, as well as the write-down and impairment losses of property inventory, are all unrealized in nature and non-cash items, and will not affect the group's cash flow

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