Legend Strategy International Holdings Group Co., Ltd. (HK:1355) has released an update.
Legend Strategy International Holdings Group Co., Ltd. disclosed substantial impairment losses of approximately HK$41.76 million for the fiscal year 2023, citing lackluster revenue growth at its Wuhan and Huizhou branches despite a market rebound post-COVID-19. The losses were a result of the company’s accommodation operations being unable to keep pace with competition and retain long-stay customers, particularly in regions heavily impacted by the pandemic. The impairment losses were determined based on valuations using the discounted cash flow method by an independent valuer.
For further insights into HK:1355 stock, check out TipRanks’ Stock Analysis page.
