Summary by Moomoo AI
Ding Fung Group Automobile Co., Ltd. (“Ding Fung Group Automobiles”) issued a profit warning and is expected to record a consolidated net loss of not less than about RMB 6 billion in 2023, a significant increase from the loss of about RMB1,804 billion in 2022. The Company noted that the expected loss was primarily due to increased impairment losses on receivables, losses in the fair value of owned and sold properties and investment properties, and decreased revenues from the automotive and electronic commerce business. The expected loss data is based on an initial assessment of the unaudited consolidated management accounts and the Board's current income data and may be adjusted after further review. DINGFENG GROUP AUTOMOBILES WILL ANNOUNCE AUDITED ANNUAL RESULTS ON MARCH 28, 2024. Company shareholders and potential investors should exercise caution.