Greenheart Group ( (HK:0094) ) just unveiled an announcement.
Greenheart Group Limited has issued a profit warning, expecting a 25% increase in net loss for the year ended December 31, 2024, compared to the previous year. This increase is attributed to a significant fair value loss on plantation forest assets in New Zealand due to declining log prices and increased shipping costs, as well as an impairment loss on timber concessions and associated assets in Suriname, driven by rising costs and decreased market demand. The company is considering strategic measures, including downsizing and potential disposal of its Suriname operations, to mitigate financial strain.
More about Greenheart Group
Greenheart Group Limited operates in the forestry industry, focusing on plantation forest assets and timber concessions. The company is involved in the production and sale of logs, primarily targeting markets in China and Suriname.
YTD Price Performance: -10.0%
Average Trading Volume: 476,119
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$83.47M
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