Cocoon Holdings Issues Profit Warning Amid Investment Losses

An announcement from Cocoon Holdings Limited ( (HK:0428) ) is now available.

Cocoon Holdings Limited has issued a profit warning, indicating an expected net loss of at least HK$70 million for the year ending December 31, 2024, compared to a net profit of approximately HK$53.5 million in the previous year. This significant financial downturn is attributed to a substantial unrealized loss on listed investments due to the poor performance of the securities held in the United States. The announcement highlights the preliminary nature of the financial assessment, as the figures are based on unaudited management accounts and are subject to further adjustments. Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities.

More about Cocoon Holdings Limited

Cocoon Holdings Limited is a company incorporated in the Cayman Islands and continued in Bermuda, operating with limited liability. The company is listed on the Hong Kong Stock Exchange and engages in investment activities, focusing on listed securities primarily in the United States.

YTD Price Performance: -14.10%

Average Trading Volume: 714,375

Technical Sentiment Signal: Buy

Current Market Cap: HK$29.91M

For an in-depth examination of 0428 stock, go to TipRanks’ Stock Analysis page.