GDC (08271) issues profit warning, expecting to incur a loss of no more than HK$64 million for the year.

GDC (08271) has announced that it is expected to incur a loss of approximately 101.42 million Hong Kong dollars in the 2024 financial year compared to the same period in 2023, with the total loss not exceeding 64 million Hong Kong dollars. The loss is mainly due to: (1) losses from the screening of animated films; (2) impairment of fair value of an investment property; (3) impairment losses on certain work-in-progress projects after considering the recoverability of assets; (4) operating losses related to terminated right-of-use assets; and (5) other operating losses. Despite these circumstances, the overall operational and financial situation of the group remains stable.