Zhuguang Holdings (01176.HK) announced on August 23 that the company is expected to record a loss attributable to owners of the company of no less than HKD 0.75 billion for the six months ending June 30, 2024, compared to HKD 66.923 million for the corresponding period ending June 30, 2023.
This is mainly due to (1) a decrease in the number of project management service agreements signed by the Group during the interim period, resulting in a decrease in project management service income of approximately HKD 0.657 billion compared to the corresponding period; (2) a decrease in the fair value of the Group's investment properties as of June 30, 2024, compared to December 31, 2023, resulting in an increase in the net loss in fair value of investment properties recorded by the Group during the interim period of approximately HKD 49.289 million; and (3) interest expenses and related provisions for several loans, as well as impairment losses on construction properties and completed properties held for sale, resulting in a significant increase in other expenses (net) recorded by the Group during the interim period of approximately HKD 56.25 million compared to the corresponding period.