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KWG Living Group Holdings Limited ( (HK:3913) ) has provided an announcement.
KWG Living Group Holdings Limited has provided an update on its 2022 acquisition of a 50% equity interest in Guangdong Telijie Environmental Engineering, which raised its stake in the company to 55% and turned Guangdong Telijie into a non-wholly owned subsidiary. Under the acquisition terms, the vendors had guaranteed specified revenue and net profit levels for 2022–2024, with a compensation mechanism if those targets were not met. Based on audited reports for 2022 and 2023 and a preliminary report for 2024, Guangdong Telijie has significantly fallen short of the guaranteed revenue and net profit targets, triggering a compensation obligation by the vendors to KWG Living, although the final amount will depend on the completion of the 2024 audited report and the ultimate accounting treatment of receivables and bad debt provisions.
The most recent analyst rating on (HK:3913) stock is a Sell with a HK$0.23 price target. To see the full list of analyst forecasts on KWG Living Group Holdings Limited stock, see the HK:3913 Stock Forecast page.
More about KWG Living Group Holdings Limited
KWG Living Group Holdings Limited is a property services and related environmental engineering provider listed in Hong Kong, with operations carried out through subsidiaries including Guangdong Telijie Environmental Engineering Co., Ltd., in which it now holds a 55% equity interest following a 50% stake acquisition completed in 2022.
Average Trading Volume: 2,241,580
Technical Sentiment Signal: Sell
Current Market Cap: HK$427.5M
See more data about 3913 stock on TipRanks’ Stock Analysis page.