Summary by Moomoo AI
South China City Holdings Limited issued a profit warning on March 25, 2024, predicting that its after-tax loss for the nine months ended December 31, 2023 would reach HK$40-50 billion. The loss was primarily due to a loss in fair value of invested property, asset depreciation of receivables, an increase in inventory impairment provisions, a loss in the fair value of financial assets and a decrease in rental income. The company emphasizes that these data are based on preliminary and unaudited assessments, and the final figures may be adjusted. The Company will issue a full results announcement no later than March 28, 2024. Shareholders and potential investors are reminded to exercise caution before trading and are advised to seek professional advice if they have questions.