HK Stock Market Move | LISI GP HOLD (00526) fell more than 10% after issuing a profit warning, with an estimated mid-term profit turning into a loss of not more than 30 million yuan.

LISI GP HOLD (00526) plunged more than 10% after issuing a profit warning, dropping by 10.45% to 0.18 Hong Kong dollars with a turnover of 2.5179 million Hong Kong dollars. On the news front, LISI GP HOLD issued a profit warning, expecting the group to incur a net loss of no more than RMB 30 million for the six months ending September 30, 2024, compared to a net profit of approximately RMB 293 million in the same period last year. The board of directors believes that the decrease in profit is mainly due to the tax-free profit of approximately RMB 131 million from the local government's land withdrawal in the same period last year, as well as an increase in the revaluation loss of investment properties and impairment losses on financial assets and contract assets.