"Profit Warning" CHINA SANDI estimates a loss of 4.4 billion RMB for the fiscal year 2024
CHINA SANDI (00910.HK) issued a profit warning, expecting a loss of approximately RMB 4.403 billion for the fiscal year 2024, compared to a loss of RMB 442 million for the fiscal year 2023. This is mainly due to the continued adverse macro environment and the downturn in the real estate industry, which led to a decline in the gross profit margin of property sales and investment property leasing, thereby affecting property sales revenue; and a fair value loss of approximately RMB 4.334 billion on investment properties
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