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An announcement from Hongkong Chinese Limited ( (HK:0655) ) is now available.
Hongkong Chinese Limited has announced an anticipated share of loss from joint ventures ranging between HK$1.1 billion and HK$1.3 billion for the year ending December 2024, a significant decline from a profit of HK$169 million the previous year. This loss is primarily due to the financial performance of OUE Limited, affected by the property market slowdown and economic challenges in mainland China, although these losses are largely non-cash, implying limited impact on operational cashflows and corporate funding.
More about Hongkong Chinese Limited
Hongkong Chinese Limited, incorporated in Bermuda, operates in the investment and development sector with a focus on joint ventures and property investments. The company’s market activities are closely tied to its subsidiary OUE Limited, which is listed on the Singapore Exchange.
YTD Price Performance: -20.0%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €56.67M
See more insights into 0655 stock on TipRanks’ Stock Analysis page.