Digital China Holdings (HK:0861) has released an update.
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Digital China Holdings has reported significant impairment losses totaling RMB984.7 million in their 2023 Annual Report, primarily due to unrecouped investments in wealth management products and interests in associates. The company’s attempts to recover debts through restructuring plans have been hampered by falling property values in China, leading to further financial setbacks. Investors may want to closely monitor how these developments impact the company’s future financial health.
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