CSC Development (00830) issued a profit warning, with the expected annual net profit attributable to shareholders decreasing by approximately 237 million Hong Kong dollars compared to the previous year.

CSC Development (00830) has announced that the Board of Directors expects the Group's net profit attributable to shareholders for the 2025 fiscal year to be approximately HK$237 million, while the net profit attributable to shareholders for the year ended December 31, 2024 is approximately HK$650 million. The decrease in expected profit is mainly due to the impact of the real estate market and economic cycle, a decrease in new project volume, and a decline in revenue. The large-scale projects in Hong Kong and Macau were completed in the previous two years, resulting in lower earnings for the 2025 fiscal year. The intense competition in project construction costs and some projects not achieving expected profits upon settlement are also contributing factors. Additionally, several projects have experienced cost increases due to various reasons, including delays in the preparatory work phase, project timeline extensions, or changes.