Man Shun Group warns of expected net loss

Man Shun Group (Holdings) Limited issued a profit warning, stating that it expects to record a consolidated net loss attributable to shareholders of approximately HK$7 million for the year ended December 31, 2024. The expected loss is primarily due to increases in the direct costs of raw materials and labor, a slowdown in the commencement and/or construction progress of certain projects, and a weak Hong Kong property market affecting new project availability for tendering. The company is finalizing its annual results, which are expected to be published on or before March 31, 2025. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the company. The company also referenced a possible transaction in relation to the Vendor and the Guarantors entered into a MOU with the Potential Purchaser that may lead to a change in control of the Company.