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Pan Asia Data Holdings, Inc. ( (HK:1561) ) just unveiled an update.
Pan Asia Data Holdings Inc. has issued a profit warning, anticipating a significant loss of at least HK$279.0 million for the year ending December 31, 2024, compared to a loss of approximately HK$59.9 million in 2023. This increase in loss is primarily due to a 70.1% decrease in revenue from its big data services segment, attributed to global economic turbulence, domestic structural adjustments, and intensified industry competition. The company also recognized an impairment loss of approximately HK$359.3 million related to non-financial assets in the big data business, reflecting the challenging business environment.
More about Pan Asia Data Holdings, Inc.
Pan Asia Data Holdings Inc. operates in the big data services industry, focusing on providing data-driven solutions. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
YTD Price Performance: -39.23%
Average Trading Volume: 127,272
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$84.17M
Learn more about 1561 stock on TipRanks’ Stock Analysis page.