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The latest update is out from Guangdong – Hong Kong Greater Bay Area Holdings Ltd. ( (HK:1396) ).
Guangdong – Hong Kong Greater Bay Area Holdings Ltd. has issued a profit warning, anticipating a significant increase in losses for the fiscal year 2024, with expected losses of approximately RMB1,600 million compared to RMB1,215 million in 2023. The company attributes this increase to the declining real estate market in China, characterized by falling property prices and extended capital recovery cycles, as well as increased maintenance costs for unsold properties and reduced gross profit margins due to intense market competition.
More about Guangdong – Hong Kong Greater Bay Area Holdings Ltd.
Guangdong – Hong Kong Greater Bay Area Holdings Ltd. is a company incorporated in the Cayman Islands, primarily operating in the real estate sector. The company focuses on property development and management within the Greater Bay Area of China, a region known for its economic significance and rapid urban development.
YTD Price Performance: 341.18%
Average Trading Volume: 9,613
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €64.32M
For detailed information about 1396 stock, go to TipRanks’ Stock Analysis page.
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