Summary by Moomoo AI
KOWLOON WAREHOUSE GROUP LIMITED ISSUED A POSITIVE EARNINGS FORECAST ON 28 FEBRUARY 2024, EXPECTING SHAREHOLDERS TO RECORD A PROFIT OF BETWEEN HK$5 BILLION AND HK$1 BILLION FOR THE FULL YEAR 2023, COMPARED WITH A LOSS OF APPROXIMATELY HK$17.05 BILLION IN 2022. THE PROFIT REVERSAL WAS MAINLY DUE TO A REDUCTION IN THE PROVISION FOR DEPRECIATION OF DEVELOPMENT PROPERTIES. The announcement is based on a recent preliminary assessment of unaudited management accounts and other management data and indicates that the final audited consolidated results will be announced in mid-March 2024. The Company's shareholders and investors should act with caution. Board members include Wu Tianhai, Xu Yaoxiang, Ling Yuanting, Chen Guobang, Xu Zhongying, and seven independent non-executive directors.