DTXS Silk Road Investment Holdings Company Limited (HK:0620) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
DTXS Silk Road Investment Holdings Company Limited reported a significant write down of HK$178,564,000 for properties under development and for sale, mainly due to a discrepancy between the management’s valuation and an independent appraisal by JLL. Despite successful sales in the previous year and enhancement works aimed at increasing property value, the company recognized a lower-than-expected value, resulting in the write down for the fiscal year ending December 31, 2023.
For further insights into HK:0620 stock, check out TipRanks’ Stock Analysis page.