Chinney Investments (HKG:0216) expects a net loss attributable to the owners of about HK$75 million for the six months ended Sept. 30, compared with about HK$2 million in the corresponding period of the previous year, according to a Monday filing with the Hong Kong bourse.
The company attributed the expected loss to the Group's lower revenue due to the delayed recognition of property sales from pre-sold units in the Beijing Nan Road project, caused by a completion delay, and to the Group's incurred fair value losses of around HK$150 million on investment properties in Hong Kong and Mainland China.
The company plans to publish its interim results late in November.
The company's shares were down almost 7% at the close of trade.
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