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The latest update is out from China Yongda Automobiles Services ( (HK:3669) ).
China Yongda Automobiles Services Holdings Limited announced a one-off non-cash impairment of long-term assets amounting to approximately RMB3,500 million due to a price war in the automotive market and macroeconomic factors. Despite this impairment, the company’s main business operations remain stable, with a focus on expanding its new energy business, which has shown significant growth in sales and revenue. The impairment is expected to optimize the financial structure and enhance future profitability, without affecting daily operations or cash flow.
The most recent analyst rating on (HK:3669) stock is a Buy with a HK$1.58 price target. To see the full list of analyst forecasts on China Yongda Automobiles Services stock, see the HK:3669 Stock Forecast page.
More about China Yongda Automobiles Services
China Yongda Automobiles Services Holdings Limited operates in the automotive industry, providing a range of services including dealership agreements and after-sales services. The company is focused on expanding its new energy business, which is a key development direction.
Average Trading Volume: 4,281,024
Technical Sentiment Signal: Sell
Current Market Cap: HK$3.96B
Learn more about 3669 stock on TipRanks’ Stock Analysis page.