SUNWAY INT'L issued a profit warning, expecting an annual consolidated loss to increase by approximately 18% to 28% year-on-year
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SUNWAY INT'L expects its annual consolidated loss for the year ending December 31, 2024, to increase by approximately 18% to 28% year-on-year. The increase in losses is primarily due to the sluggish property market in China, with specific reasons including: an increase of approximately HKD 33 million in receivables impairment losses under the credit loss model, an increase of approximately HKD 9 million in losses from the sale of properties and equipment, and a goodwill impairment of approximately HKD 20 million related to manufacturing and trading businesses in China
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