China Ting Group Holdings (03398) confirmed that its loss before the tax for the year ended 31 December 2014 will increase from previously estimated HK$193 million to HK$246.9 million.
It said the increase is primarily due to the following additional factors: (1) An impairment amount of HK$83.5 million is charged on the re-classification of its investment in Zhejiang Haoran Property Company; (2) A provision for bad and doubtful debt for HK$17.7 million regarding two entrusted loans of RMB160 million; (3) Increase in the estimated amount of operating profit for the last two months of 2014.
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