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Gemdale Properties & Investment ( (HK:0535) ) has shared an announcement.
Gemdale Properties & Investment Corporation Limited has issued a profit warning, indicating a projected loss of RMB 4.2 billion to RMB 4.8 billion for the year ending December 31, 2024, compared to a profit of RMB 343 million the previous year. This downturn is attributed to a decrease in gross profit margins from development projects, reduced profit shares from joint ventures, and increased impairment losses on properties. These changes could significantly impact the company’s financial standing and investor confidence.
More about Gemdale Properties & Investment
Gemdale Properties & Investment Corporation Limited is a real estate company based in Bermuda, focusing on property development and investment. The company is involved in various property projects, including those under joint ventures and associates.
YTD Price Performance: -3.57%
Average Trading Volume: 13,884,478
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$4.49B
Find detailed analytics on 0535 stock on TipRanks’ Stock Analysis page.