Summary by Moomoo AI
Sun Hung Kai Corporation (the “Company”) issued a profit warning, expecting a loss for the year ended December 31, 2023 to not exceed HK$6 billion, a significant decrease from the HK$15 billion loss for the same period in 2022. The improvement was primarily attributable to a reduction in losses on financial instruments measured at market value in the Company's investment management business. The Company notes that these data are from the most recent preliminary review and evaluation of the unaudited management accounts and will release audited annual results by the end of March 2024. Company shareholders and potential investors should exercise caution. The Executive Directors of Sun Hung Kai include Group Executive Chairman Mr. Li Shenghuang and Mr. Brendan James McGraw.