TAI UNITED HOLD issues a profit warning, expecting pre-tax losses in the first half to decrease to approximately HKD 200 million to HKD 240 million
TAI UNITED HOLD released a profit warning, expecting that the pre-tax loss in the first half of 2025 will decrease to approximately HKD 200 million to HKD 240 million, an improvement compared to approximately HKD 275 million in the same period of 2024. The reasons for the loss include the decline in the fair value of investment properties in China, provisions for financial guarantee contract losses related to bank borrowings of non-group companies, and financial costs of bank loans associated with the acquisition of a shopping center in Guangzhou
According to the Zhitong Finance APP, TAI UNITED HOLD (00718) announced that the group expects to incur a significant pre-tax loss of approximately HKD 200 million to HKD 240 million during the first half of 2025, while the group recorded an unaudited pre-tax loss of approximately HKD 275 million for the six months ended June 30, 2024. The main reasons for the expected pre-tax loss are: a decrease in the fair value of investment properties in China; provisions for losses related to financial guarantee contracts signed with domestic banks for bank borrowings of non-group companies; and related financial costs arising from bank loans associated with the acquisition of a shopping center in Guangzhou
