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GC Construction Anticipates Swing to Loss in Fiscal H1
GC CONSTRUCTION (01489.HK) issued a profit warning: It is expected to incur a net loss of not less than 7 million Hong Kong dollars in the mid-term.
On October 28, GC CONSTRUCTION (01489.HK) announced that for the six months ending September 30, 2024, the group expects to record a net loss of not less than approximately 7 million Hong Kong dollars, while the net profit for the six months ending September 30, 2023 was approximately 16.6 million Hong Kong dollars. The announcement stated that the net loss was mainly due to a decrease in gross margin. The decrease in gross margin was due to (i) unexpected changes in customer requirements during the reporting period, leading to an increase in subcontracting costs; and (ii) a decrease in the gross margin of new projects due to fluctuations in the real estate market.
haitong sec: Pressure has emerged in the construction industry, looking forward to policy changes.
haitong sec released research reports stating that industry pressure has already emerged, awaiting policy changes.
GC Construction Holdings AGM and Share Issuance Plans
GC CONSTRUCTION: ANNUAL REPORT 2023/2024
GC Construction Proposes Corporate Amendments
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