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New City Development Group Limited ( (HK:0456) ) has provided an update.
New City Development Group Limited reported a significant decrease in revenue for the year ended December 31, 2024, with figures dropping from HK$172,926,000 in 2023 to HK$98,607,000 in 2024. The company also recorded a loss of HK$136,522,000, slightly lower than the previous year’s loss. Despite the decrease in losses, the company faced challenges such as impairment losses on various assets, which impacted its financial performance. This announcement highlights the company’s ongoing financial struggles and the need for strategic adjustments to improve its market position and stakeholder confidence.
More about New City Development Group Limited
New City Development Group Limited is a company incorporated in the Cayman Islands, operating with limited liability and listed on the Hong Kong Stock Exchange. The company is involved in property development and related services.
YTD Price Performance: -18.03%
Average Trading Volume: 72,234
Technical Sentiment Signal: Buy
Current Market Cap: HK$69.12M
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