"Profit Warning" NEW CENTURY GP expects a full-year loss of up to 58 million yuan

NEW CENTURY GP (00234.HK) announced that for the year ending March 31 this year, the group expects to record a loss attributable to equity holders of no more than HKD 58 million, compared to a profit attributable to equity holders of approximately HKD 22 million last year.

The group indicated that the expected performance shift from profit to loss is mainly due to the fair value loss of the group's investment properties, which is partially offset by increased profits from securities trading. The group also recorded fair value gains from investment properties and gains from the sale of subsidiaries in the previous year