COSMOPOL INT'L (00120.HK) announced that it is expected to record a net loss of about HKD 169,000,000 during the mid-term period of 2024, while a loss of HKD 98,300,000 was recorded during the same period in 2023.

The increased losses during the review period were mainly due to the revision of the project development cost allocation benchmark adopted by the group's property projects in China in past years, as well as the tax expenses incurred. On the other hand, due to the weak Chinese real estate market, the profit contribution from the unit sales of the group's two development projects located in Chengdu and Tianjin was relatively low.