China High Precision Automation Group (HKG:0591) expects a net loss between 30 million yuan and 34 million yuan for the year ended June 30, wider than 22.7 million yuan recorded for the previous fiscal year, a Friday filing with the Hong Kong Exchange said.
The automation instrument manufacturer attributed the loss to the loss of fair value of the group's investment properties in China resulting from the worsened property market in China during the reviewing period.
The company's shares closed over 3% higher on Friday.
Price (HKD): $0.13, Change: $+0.0040, Percent Change: +3.25%
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