Summary by Moomoo AI
Sun Hung Kai Co. ("the Company") released a positive profit forecast on August 12, 2024, expecting to record an unaudited comprehensive profit of no more than HKD 80 million for the six months ended June 30, 2024. This result is significantly improved from the loss of HKD 0.288 billion in the same period of 2023, mainly due to the reduction of net losses from financial instruments and the narrowing of pre-tax losses from investment management business, despite the decrease in pre-tax profits from crediting business due to the weak local economy and high interest rates. The board of directors reminds shareholders and potential investors that the forecast information has not been reviewed by auditors or the audit committee, and unaudited interim performance will be announced in August 2024.