CNT Group (00701.HK) issued a profit warning, expecting a loss attributable to shareholders of between 14 million and 17 million yuan for the six months ending on June 30, 2024, compared to a shareholder loss of 3.3 million yuan in the same period in 2023.

The company explained that the expected widening of losses was mainly due to significant fair value loss net amounts recorded for investment properties in Hong Kong and mainland China as of June 30 of this year, while a net fair value gain of about 12.8 million yuan was recorded as of June 30 last year.