HK Stock Market Move | CSC Development (00830) falls more than 7%, expected last year's net profit to decrease by over 60% year-on-year.

CSC Development (00830) fell by more than 7%, with a decrease of 7.63% to HKD 1.09 at the time of writing, with a turnover of HKD 984,000. On the news front, CSC Development issued a profit warning, with the Board of Directors forecasting a shareholder's net profit of approximately HKD 237 million for the fiscal year 2025, compared to around HKD 650 million in the same period last year. This represents a 63.5% year-on-year decrease. The decrease in expected profit is mainly due to the impact of the real estate market and economic cycle, a decrease in new project volume, and declining revenue. Large-scale projects in Hong Kong and Macau have been completed in the past two years, leading to lower profitability in the fiscal year 2025; intense competition in project construction costs and some projects not reaching expected profit levels for various reasons, including delays in the early stages of preparation, project extensions or changes, leading to increased project costs.