Lvgem China (00095) announced that the Group expects to incur a loss of approximately RMB 1.61 billion for the mid-year of 2024 (ending on June 30, 2024)...
Lvgem China (00095) announced that the Group expects to incur a loss of approximately RMB 1.61 billion for the mid-year of 2024 (ending on June 30, 2024), compared to a loss of approximately RMB 0.58 billion for the six months ended on June 30, 2023.
The announcement stated that the increase in the loss was mainly due to the increase in fair value loss of investment properties acquired by the Group in the unfavorable current real estate market conditions for the mid-year of 2024.