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Pinestone Capital Issues Profit Warning Amid Increased Losses

Story Highlights
  • Pinestone Capital operates in financial services, focusing on securities-backed lending.
  • The company expects a net loss of HK$30-33 million for 2024 due to impairment losses.
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Pinestone Capital Issues Profit Warning Amid Increased Losses

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Pinestone Capital Ltd ( (HK:0804) ) has shared an announcement.

Pinestone Capital Limited has issued a profit warning, indicating an expected net loss between HK$30.0 million and HK$33.0 million for the year ending December 31, 2024, due to impairment losses on trade and loans receivables. This marks an increase from the HK$24.4 million net loss recorded in the previous year, highlighting ongoing financial challenges for the company.

More about Pinestone Capital Ltd

Pinestone Capital Limited, incorporated in the Cayman Islands, operates in the financial services industry, focusing on securities-backed lending services.

YTD Price Performance: -6.82%

Average Trading Volume: 1,840,419

Technical Sentiment Consensus Rating: Buy

Current Market Cap: HK$99.89M

Learn more about 0804 stock on TipRanks’ Stock Analysis page.

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