Fantasia Holdings Details Impairment Loss on Nanshan Project Acquisition

The latest announcement is out from Fantasia Holdings Group Co. Ltd. ( (HK:1777) ).

Fantasia Holdings Group Co., Limited announced details concerning impairment losses related to deposits paid for acquisitions, specifically the Nanshan Project. The company had agreed to acquire 70% equity in the Nanshan Project Company, which had suspended operations with its main assets being properties in Shenzhen. The transaction’s value was determined through negotiations considering the project’s location and development potential, but the completion of payment is contingent on government planning approvals, impacting the company’s financial outlook and strategic positioning.

More about Fantasia Holdings Group Co. Ltd.

Fantasia Holdings Group Co., Limited is a company incorporated in the Cayman Islands, primarily involved in real estate development and investment. The company focuses on acquiring, developing, and managing properties in various locations, often engaging in transactions to expand its asset portfolio.

YTD Price Performance: 40.0%

Average Trading Volume: 23,926

Technical Sentiment Consensus Rating: Buy

Current Market Cap: €67.21M

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