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Qidian International Co., Ltd. ( (HK:1280) ) has issued an update.
China Qidian Guofeng Holdings Limited, along with its subsidiaries, has issued a profit warning for the fiscal year ending December 31, 2024. The company anticipates a significant loss of approximately RMB2,222 million, a stark contrast to the RMB56 million profit recorded in the previous year. This downturn is primarily attributed to a goodwill impairment loss of around RMB2,183 million related to the acquisition of Shengshang Entrepreneurial Services Co., Ltd., and share award expenses of RMB8.67 million. The impairment arose from the disparity between the acquisition date fair value and the agreed value of the consideration shares issued for the acquisition. The company’s annual results are yet to be finalized and will be disclosed in March 2025.
More about Qidian International Co., Ltd.
YTD Price Performance: 19.12%
Average Trading Volume: 1,052,050
Technical Sentiment Signal: Sell
Current Market Cap: HK$5.4B
For detailed information about 1280 stock, go to TipRanks’ Stock Analysis page.