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Glory Sun Land Group Limited ( (HK:0299) ) has provided an update.
Glory Sun Land Group Limited has issued a profit warning, anticipating a significant increase in net loss for the year ending December 31, 2024, with expected losses not exceeding HK$2,300 million, compared to HK$828 million in the previous year. The increased losses are attributed to a substantial decline in sales revenue from its PRC real estate segment, increased write-downs of property inventories, a drop in the fair value of investment properties, and a significant impairment loss on a land redevelopment project. Stakeholders are advised to exercise caution, as the financial results are preliminary and subject to change.
More about Glory Sun Land Group Limited
Glory Sun Land Group Limited operates in the real estate and property investment sector, primarily focusing on the PRC market. The company is involved in various real estate activities, including property development and investment.
YTD Price Performance: -37.22%
Average Trading Volume: 219,324
Technical Sentiment Signal: Buy
Current Market Cap: HK$12.34M
Find detailed analytics on 0299 stock on TipRanks’ Stock Analysis page.