The latest update is out from ESR Group Limited ( (HK:1821) ).
ESR Group Limited has issued a profit warning, projecting a net loss of approximately US$730 million for the financial year ended 31 December 2024, compared to a net profit of US$268 million the previous year. The loss is attributed to non-cash marked-to-market losses from asset and project revaluations, as well as a decline in promote and transaction-based fees, driven by macroeconomic headwinds and strategic corporate actions. Despite these challenges, the company’s core business remains resilient, supported by growth in recurring fee incomes.
More about ESR Group Limited
ESR Group Limited is a company incorporated in the Cayman Islands, operating primarily in the real estate sector. The company focuses on asset management, investment management, and property management, with a strategic emphasis on transitioning to a capital-light funds management model.
YTD Price Performance: 4.02%
Average Trading Volume: 7,348,933
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$52.73B
Learn more about 1821 stock on TipRanks’ Stock Analysis page.