tiprankstipranks
Powerlong Real Estate Anticipates Major Losses
Company Announcements

Powerlong Real Estate Anticipates Major Losses

Powerlong Real Estate Holdings Ltd. (HK:1238) has released an update.

Don't Miss our Black Friday Offers:

Powerlong Real Estate Holdings Ltd. has issued a profit warning, anticipating significant losses for the six-month period ending June 30, 2024, in contrast to the profits made in the same period of the previous year. The expected losses, amounting to RMB 1.9 to 2.1 billion, are primarily due to the challenging real estate market conditions, impairment provisions, foreign exchange losses, and decreased earnings from joint ventures. Investors are cautioned to consider these preliminary findings, which have yet to be audited, and await the full interim results due by the end of August 2024.

For further insights into HK:1238 stock, check out TipRanks’ Stock Analysis page.

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App