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Retail Management Association: The basic market factors remain unchanged, and the market has not yet shown signs of improvement.
Annie Lo, Executive Director of the Retail Management Association, pointed out that the main reason for the narrowed decline in retail data in Hong Kong in September is the low base effect. She mentioned that the current market conditions have not changed fundamentally, with general weakening in consumer spending among citizens, coupled with strong performance of the Hong Kong dollar and the influx of mainland Chinese visitors, the market remains weak without any signs of improvement. 70% of the association's members expect business performance to continue to decline in October. Annie Lo stated that among these members, non-essential items are experiencing a larger decline, while 30% expect business to remain stable or improve, primarily relying on promotional activities and new product launches. Members are still pessimistic about the performance in November and December. She pointed out that half of the members anticipate a decline in business in November, during the Christmas holiday in December.
Soundwill Fails to Get Extension for Auction of Haven Court
Soundwill Holdings (00878.HK): There will be no second auction for Sincere Building.
Soundwill Holdings (00878.HK) stated that the Court of Appeal rejected the company's appeal on the auction of Hopewell Centre on September 2 and ruled that the three-month validity period of the sale order could only be extended for another three months. Therefore, the sale order has no legal effect after August 29 last month. The company stated that, after consulting its professional advisors, it will not appeal the decision of the Court of Appeal. Subsequently, the Lands Tribunal replied to the trustee's unilateral application to further extend the deadline for the sale order for a second auction, stating that it will not approve the extension. The trustee subsequently notified Soundwill Holdings that it will cancel it at the Land Registry.
SOUNDWILL HOLD: INTERIM REPORT 2024
Soundwill Holdings' H1 Attributable Loss Widens Despite Surge in Revenue
The performance of Soundwill Holdings (00878.HK) has expanded its mid-term losses to 0.975 billion yuan.
Soundwill Holdings (00878.HK) announced its interim performance for the six months ended in June, with a recorded profit of 1.03 billion yuan, an increase of 385% compared to the previous year. The loss increased from 0.348 billion yuan in the same period last year to 0.975 billion yuan, with a loss per share of 3.44 yuan. No interim dividend will be distributed.
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