Glory Holdings announced on November 20 that asia standard (00129.HK) expects a shareholder loss of HKD 350,000,000 to HKD 420,000,000 for the six months ending September 30, 2024, compared to a loss of HKD 916,000,000 recorded for the same period in 2023.
The main reasons for this change are (i) an increase in profit recognition from real estate development projects; and (ii) a decrease in expected credit losses from financial asset investments; part of the reduction in losses is due to (i) reevaluation losses of investment properties offsetting reevaluation gains from the same period last year; and (ii) a decline in interest income from financial investments.
