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Tycoon Group Expects Sharp Profit Drop
Tycoon Group (03390.HK) is expected to see a year-on-year decrease in net profit of no less than 75% in the first half of the year.
On July 24th, Gelonhui announced that according to the preliminary evaluation of the unaudited comprehensive management accounts up to June 30, 2024 ("first half of 2024") and currently available information, it is expected that the tycoon group's net profit in the first half of 2024 will decrease by no less than 75% compared to the net profit of the tycoon group's six months ended on June 30, 2023. Directors believe that the main reason for the decline is that no fair value gain on financial assets recognized in profit or loss of approximately HKD 19.1 million and the disposal of a joint venture were recognized in the first half of 2023.
Express News | Tycoon Group - Expected Result Due to Absence of Fair Value Gain on Financial Assets at Fair Value via Profit or Loss, Among Others
Express News | Tycoon Group Sees Net Profit for 1H2024 to Decrease by Not Less Than 75%
TYCOON GROUP: UPDATE ON FINANCIAL INFORMATION
China Wisdom Port Hong Kong shareholder equity disclosure|July 9th.
Hong Kong Stock Shareholder Equity Disclosure | July 9th
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