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A-Living Smart City Services Co., Ltd. Class H ( (HK:3319) ) has shared an update.
A-Living Smart City Services Co., Ltd. has issued a profit warning, projecting a significant net loss for the year ended December 31, 2024, ranging between RMB3,200 million to RMB3,500 million, compared to a net profit of RMB460 million in 2023. This downturn is attributed to several factors, including substantial impairment provisions due to creditworthiness assessments of major customers, withdrawal from projects with long collection cycles, and the impact of a real estate market downturn on revenue and profitability. The company is actively adjusting its business structure to focus on higher-margin projects, although these have yielded poorer returns.
More about A-Living Smart City Services Co., Ltd. Class H
A-Living Smart City Services Co., Ltd. is a company incorporated in the People’s Republic of China, operating in the smart city services industry. The company focuses on providing a range of services related to city management and real estate, aiming to enhance urban living through innovative solutions.
YTD Price Performance: -2.52%
Average Trading Volume: 1,941
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €486.9M
See more data about 3319 stock on TipRanks’ Stock Analysis page.