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First Service Holding Limited Issues Profit Warning for 2024
FIRST SERVICE (02107.HK) expects the annual loss will not exceed 7 million yuan.
On March 19, Glonghui reported that FIRST SERVICE (02107.HK) announced that the group expects its net loss for the year ending December 31, 2024, will not exceed 7 million yuan, while the group's net profit for the year ending December 31, 2023, was approximately 70.1 million yuan. The expected decrease in profit is mainly due to the group further providing impairment provisions for trade receivables from related real estate clients. However, the company believes that this provision will not significantly affect the recovery of these trade receivables, and the group will continue to strengthen discussions with relevant related clients.
Express News | First Service - Decrease in Profits Due to Impairment Provision for Trade Receivables in Year
Express News | First Service Holding Ltd - Expected Net Loss of Not More Than RMB7.0 Million for 2024
FIRST SERVICE: PROFIT WARNING
Hong Kong Property: It is expected that the overall property registration volume in Hong Kong will rise to 5,000 cases in March.
According to Wang Pindi, Director of the Research Department of Hong Kong Real Estate, data from the Land Registry shows that as of this month (up to the 17th), Hong Kong has recorded a total of 2,908 property registrations (including new private residences, second-hand Residences, new public housing, commercial shops, pure parking spaces, and Other non-residential properties), an increase of approximately 16.6% compared to 2,493 registrations in the same period last February.
