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The latest announcement is out from Kai Yuan Holdings Limited ( (HK:1215) ).
Kai Yuan Holdings Limited has announced a positive profit alert, indicating a significant financial turnaround for the year ended December 31, 2024. The company expects to report a profit of approximately HK$35.8 million, compared to a loss of HK$2.4 million in the previous year. This improvement is primarily due to increased revenue and gross profit from the Paris Marriott Hotel Champs-Elysees, the reversal of an impairment provision on convertible bonds, and the absence of a loan impairment provision. However, this was partially offset by higher income tax provisions. The final results are subject to auditor review and will be released by March 2025.
More about Kai Yuan Holdings Limited
Kai Yuan Holdings Limited is a company incorporated in Bermuda with limited liability, and it operates with subsidiaries in various sectors. The company is involved in the hospitality industry, with a notable focus on hotel operations, including the Paris Marriott Hotel Champs-Elysees.
YTD Price Performance: -20.0%
Average Trading Volume: 1,803,638
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$204.5M
See more insights into 1215 stock on TipRanks’ Stock Analysis page.