CHI HO DEV (08423) Issues Profit Warning, Expects Interim Net Loss of HKD 20-21 Million
Stock News
Yesterday
CHI HO DEV (08423) announced that the group is expected to record a consolidated net loss of approximately HKD 20 million to HKD 21 million for the six months ending September 30, 2025, compared to a consolidated net profit of around HKD 9 million for the same period in 2024. The board attributed the expected net loss primarily to: (i) a provision of approximately HKD 14 million recognized under the expected credit loss model for a loan to a joint venture, (ii) a provision of about HKD 2 million recognized under the expected credit loss model for trade receivables and contract assets, and (iii) reduced revenue from mixed-use projects, renovation, and additional construction works, leading to lower gross profit.
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