"Profit Warning" Zheneng (Group) expects to turn a loss of 980 million to 1.1 billion for the full year

ZhuoNeng (Group) (00131.HK) issued a profit warning, expecting a loss of between HKD 980 million and HKD 1.1 billion for the fiscal year ending in June, compared to a profit of HKD 172 million in the previous year. The anticipated loss is mainly due to the absence of any sales transactions in Hong Kong properties, resulting in a decrease in gross profit; the fair value loss of investment properties has significantly increased to HKD 915 million; and provisions for development properties have caused administrative expenses to rise to HKD 290 million