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Ever Reach Group Holdings Co., Ltd. ( (HK:3616) ) has issued an update.
Ever Reach Group Holdings Co., Ltd. reported its interim financial results for the first half of 2024, revealing a significant decline in profitability. The company experienced a net loss of RMB 36,099,000 compared to a profit of RMB 69,176,000 in the same period last year, primarily due to increased cost of sales and fair value losses on investment properties. This downturn may impact the company’s financial stability and its market positioning, raising concerns among stakeholders.
More about Ever Reach Group Holdings Co., Ltd.
Ever Reach Group Holdings Co., Ltd. is a company incorporated in the Cayman Islands with limited liability, operating in the real estate industry. The company focuses on property development and investment, primarily serving the Chinese market.
Technical Sentiment Signal: Hold
Current Market Cap: HK$312M
Find detailed analytics on 3616 stock on TipRanks’ Stock Analysis page.