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02892 MILLION CITIES
RTNominal up0.660 +0.160 (+32.000%)
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23/12/2019 14:31

Million Cities (02892) sees year net turn to red

[ET Net News Agency, 23 December 2019] Million Cities Holdings Limited (02892) said the
group is expected to record a loss for the year ending 31 December 2019 as compared to a
profit of approximately RMB77.8 million recorded for the year ended 31 December 2018.
Due to the temporary suspension of construction, delivery of Million Cities Legend Phase
2 is expected to take place in the first quarter of 2020. Revenue from the sale of
properties of Million Cities Legend Phase 2 would be recognised upon delivery. As a
result, the revenue of the group for the year ending 31 December 2019 would be affected
and the group is expected to record a loss for the year ending 31 December 2019. (RC)

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