Hailan Holdings Limited (02278) said it is expected that the group is likely to record a net loss of around RMB10 million for the year ended 31 December 2019, versus an audited consolidated net profit of approximately RMB181 million for the year ended 31 December 2018.
Such loss was mainly due to the remained and continued general control policies in PRC real estate market, which led to the group recorded the significant decease in property contracted sales and property delivered gross floor area during the year, resulting in a significant decrease in gross profit.
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