Minmetals Land (HKG:0230) expects a net loss attributable to equity holders of about HK$3.50 billion for 2024, compared with HK$1.01 billion a year earlier, according to a Friday filing with the Hong Kong bourse.
The company attributed the loss to the decline in the gross profit margin of the real estate development business and provisions for impairment loss relating to real estate development projects.
The securities investment and property firm plan to publish their annual result by the end of March.
The company's shares were down over 4% in the recent trading.
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