GLORY SUN LAND issues profit warning, expecting mid-term net loss to narrow year-on-year to no more than HKD 245 million
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GLORY SUN LAND issued a profit warning, expecting a mid-term net loss of no more than HKD 245 million for the period ending June 30, 2025, a decrease from approximately HKD 1.57 billion in the same period of 2024. The reasons for the loss include a decline in revenue due to the sluggish Chinese real estate market, a decrease in the fair value of investment properties, and impairment losses on advance payments and other deposits for land redevelopment projects
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