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GC CONSTRUCTION (01489.HK) plans to hold a board of directors meeting on November 26 to approve the mid-term performance.
Grand Long Hui, November 6th: GC CONSTRUCTION (01489.HK) announced that the board of directors will hold a board meeting on November 26, 2024 (Tuesday) to consider and approve the unaudited comprehensive interim performance of the group for the six months ended September 30, 2024 and matters published in its announcement, and consider recommending the distribution of final dividends (if any).
GC Construction Anticipates Swing to Loss in Fiscal H1
GC CONSTRUCTION (01489.HK) issued a profit warning: It is expected to incur a net loss of not less than 7 million Hong Kong dollars in the mid-term.
On October 28, GC CONSTRUCTION(01489.HK) announced that for the six months ending September 30, 2024, the group expects to record a net loss of no less than approximately 7 million Hong Kong dollars, while the net profit for the six months ending September 30, 2023 was approximately 16.6 million Hong Kong dollars. The announcement stated that the net loss was mainly due to a decrease in gross margin. The decrease in gross margin is attributed to (i) unexpected changes in customer work requirements during the reporting period, leading to an increase in subcontracting costs; and (ii) a decrease in the gross margin of new projects due to fluctuations in the real estate market.
Express News | GC Construction - Expected Result Due to Deterioration of Gross Profit Margin, Others
Express News | GC Construction Holdings Ltd Sees Net Loss of Not Less Than HK$7 Mln for 6M
haitong sec: Pressure has already emerged in the construction industry, looking forward to policy changes.
haitong sec released research reports stating that industry pressure has already emerged, awaiting policy changes.
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