ASIA ORIENT (00214) issues profit warning, predicting that the mid-term loss attributable to shareholders will narrow to HK$210-270 million year-on-year.

ASIA ORIENT (00214) announced that the group is expected to incur a loss attributable to shareholders of HK$210-270 million for the six months ending September 30, 2024, compared to a loss of HK$619 million for the same period in 2023. The main reasons for this change are an increase in profit recognition from real estate development projects, a decrease in expected credit losses from financial asset investments, a reduction in losses due to revaluation losses from investment properties offsetting revaluation gains from the same period last year, and a decrease in interest income from financial investments.