HY PROPERTY issued a profit warning, expecting a net loss of approximately 1.05 billion to 1.45 billion yuan for the fiscal year 2024
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HY PROPERTY expects a net loss of approximately RMB 1.05 billion to 1.45 billion for the year 2024, due to adjustments in the real estate market and policy easing. The company will dynamically adjust its operational and sales strategies to ensure stable cash flow, and it is anticipated that overall operating revenue will decrease significantly, with low gross profit levels, signs of impairment in some projects, and increased interest expenses
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