Summary by Futu AI
Zhuguang Holdings Group Limited issued a profit warning, expecting a loss of not less than 0.75 billion Hong Kong dollars for the six months ending June 30, 2024. This substantial loss is mainly due to a decrease in project management service income, a decline in the fair value of investment properties, and an increase in interest on borrowings and related expenses. Compared to the approximately 66.923 million Hong Kong dollars loss in the same period of 2023, this expected loss reflects a significant deterioration in the company's financial condition. Shareholders and potential investors are advised to exercise caution. The board of directors of Zhuguang Holdings currently consists of six executive directors and three independent non-executive directors, with Mr. Zhu Qingsong serving as the chairman. The warning was issued on August 23, 2024 by the company's chairman, Mr. Zhu Qingsong.