[ET Net News Agency, 4 November 2019] Ground International Development Limited (00989)
said it is anticipated that the group will record a net loss of not less than RMB600
million for the six months ended 30 September 2019 as compared with the net profit of
approximately RMB10.5 million for the six months ended 30 September 2018.
The anticipated net loss was primarily attributable to (i) a decrease in fair value of
the investment properties in Hong Kong; (ii) an impairment loss on the entrusted loan
receivable due from certain borrowers and additional provision for guarantee loss arising
from the financing guarantee business; and (iii) a provision of diminution in the value of
a property project in Fusong County, the PRC. (RC)