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Grand Ocean Advanced Resources Co., Ltd. ( (HK:0065) ) has shared an update.
Grand Ocean Advanced Resources Co., Ltd. has issued a profit warning, projecting a significant increase in its annual loss for 2024, estimated at HK$65 million compared to HK$33.6 million in 2023. This anticipated loss is attributed to impairment losses on non-financial assets in its coal mining segment, increased operating costs due to compliance with China’s green mine construction policy, and higher administrative expenses linked to international investment activities. The company’s board meeting is scheduled for March 31, 2025, to finalize and approve the annual results.
More about Grand Ocean Advanced Resources Co., Ltd.
Grand Ocean Advanced Resources Co., Ltd. operates in the coal mining industry, focusing on the extraction and management of coal resources. The company is also involved in exploring investment opportunities in various countries, including a recent interest in a copper mine in the Lao People’s Democratic Republic.
YTD Price Performance: 40.62%
Average Trading Volume: 348,109
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$92.08M
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