hkr int'l (0480.HK) opened low today and closed down 8.08% at 0.91 Hong Kong dollars, with a latest market cap of 1.35 billion Hong Kong dollars. hkr int'l announced last night that the group expects a net loss attributable to shareholders of approximately 0.475 billion Hong Kong dollars for the six months ending September 30, 2024, compared to a profit of 0.118 billion Hong Kong dollars in the same period last year. This is mainly due to: i) no planned completion of property development projects during the period, resulting in reduced property sales revenue and profit contribution; and due to cautious market sentiment, completed properties for sale have weak sales, hence adjusting further in response to the current market conditions, and making an asset impairment provision of approximately 0.128 billion Hong Kong dollars for property development projects held by the group and its joint ventures; and ii) given the current unfavorable real estate market conditions, resulting in an increase of approximately 0.322 billion Hong Kong dollars in fair value loss on investment properties held by the group and its joint ventures. (Grain Capital)