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Glorious Property Holdings Limited ( (HK:0845) ) just unveiled an update.
Glorious Property Holdings has issued a quarterly update stating that its 2024 audit remains incomplete, mainly due to unpaid professional and audit fees and internal personnel changes, against the backdrop of a continuing downturn in China’s real estate sector. As a result, publication of its 2024 annual results and report is further delayed, with no clear timetable, as the company attempts to procure funds from its mainland subsidiaries, which face strict foreign exchange controls.
The company also disclosed that the delays in releasing its 2024 annual and 2025 interim results have in turn pushed back the timetable for its 2025 annual results and report, prolonging the suspension of trading in its shares. The board and management say they are working with the auditor to complete the 2024 and 2025 annual audits and the 2025 interim figures as soon as practicable, but investors remain without up-to-date financial information while the suspension continues.
More about Glorious Property Holdings Limited
Glorious Property Holdings Limited is a Hong Kong-listed real estate developer incorporated in the Cayman Islands, with operations conducted through subsidiaries in mainland China. The group focuses on property development in the Chinese market, where it is exposed to the broader downturn in China’s real estate industry and to mainland foreign exchange controls affecting capital flows.
Technical Sentiment Signal: Sell
Current Market Cap: HK$77.93M
For an in-depth examination of 0845 stock, go to TipRanks’ Overview page.