Household product maker Lisi Group (HKG:0526) expects a net profit of up to 40 million yuan for the year ended March 31, down from 325.1 million yuan a year prior, a Monday Hong Kong bourse filing said.
The lower anticipated profit was mainly due to the absence of a gain from the resumption of land by a local government seen in the prior year, a higher valuation loss from the revaluation of its investment properties, and a rise in impairment losses on financial and contract assets.
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