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Momentum Financial Holdings Limited ( (HK:1152) ) just unveiled an update.
Momentum Financial Holdings Limited has issued a profit warning, expecting a net loss of approximately HK$22.5 million to HK$24.5 million for the year ended December 31, 2024, compared to a net profit of HK$19.5 million in the previous year. This shift from profit to loss is attributed to a decrease in their cross-border trading business and increased impairment loss on trade receivables. Additionally, trading of the company’s shares remains suspended on the Hong Kong Stock Exchange until the annual results are published, impacting stakeholders and requiring caution from investors.
More about Momentum Financial Holdings Limited
Momentum Financial Holdings Limited operates in the financial sector, with a focus on cross-border trading of nutrition food and health care products.
Average Trading Volume: 40,000
Technical Sentiment Signal: Sell
Current Market Cap: HK$71.69M
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