Peking University Resources Holdings Co. Ltd. (HK:0618) has released an update.
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Peking University Resources (Holdings) Company Limited warns of a significant loss for the year ended March 31, 2024, with expected deficits between RMB700 million and RMB850 million, contrasting sharply with the RMB1,018.9 million profit from the previous year. The downturn is attributed to decreased gross profit from property development, uncompensated land resumption by the government, ongoing guarantee liabilities, and impairments in properties and financial assets. Investors are cautioned to exercise prudence when trading in the company’s securities.
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