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COSMOPOL INT'L (00120.HK) issued a profit warning, expecting a net loss of approximately 0.169 billion Hong Kong dollars in the mid-term.
COSMOPOL INT'L (00120.HK) announced that it is expected to record a net loss of approximately HKD 169,000,000 in the mid-2024 period, while a loss of HKD 98,300,000 was recorded in the six-month period of the same period in 2023. The increase in losses during the review period was mainly due to the revision of the project development cost allocation basis adopted by the group's property projects in China in previous years, and the tax expenses imposed. On the other hand, due to the weak real estate market in China, the two development projects of the group located in Chengdu and Tianjin have been affected.
Express News | Cosmopolitan International Sees Net Loss of Approximately HK$169 Mln for Hy
Hong Kong stock market moves | Cosmopol Int’l (00120) plummeted by more than 17% in early trading and was removed from the Hang Seng Composite SmallCap Index.
At the opening bell, Cosmopol Int'l (00120) plummeted by more than 17%, and as of press time, it fell by 17.46%, to HK$0.26, with a turnover of HK$5.4826 million.
Cosmopol Int'l (00120) has been removed from the Hang Seng Composite SmallCap Index and may be removed from the Hong Kong Stock Connect.
On August 16th, Hang Seng Indexes Company announced its latest quarterly review results, which removed Cosmopol Int'l (00120) from the Hang Seng Composite SmallCap Index. The change will be implemented after the market closes on September 6th, 2024 (Friday) and will take effect on September 9th, 2024 (Monday).
COSMOPOL INT'L (00120.HK) plans to hold a board of directors meeting on August 28 to approve the interim performance.
COSMOPOL INT'L (00120.HK) announced on August 14th that the company will hold a board meeting on Wednesday, August 28th, 2024 to approve the release of the group's (including the company and its subsidiaries) interim performance for the six months ending June 30, 2024, and other related matters.
COSMOPOL INT'L: 2023 ANNUAL REPORT
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