Powerlong Real Estate Holdings Ltd. ( (HK:1238) ) has provided an announcement.
Powerlong Real Estate Holdings Limited has issued a profit warning, indicating an expected increase in losses for the year ending December 31, 2024, compared to the previous year. The anticipated losses, ranging between RMB5,300 million and RMB5,600 million, are attributed to a challenging operating environment in the real estate sector, including impairment provisions for property projects, decreased fair value of investment properties, foreign exchange losses, and reduced share of results from joint ventures and associates.
More about Powerlong Real Estate Holdings Ltd.
Powerlong Real Estate Holdings Limited is a company incorporated in the Cayman Islands, operating in the real estate industry. The company, along with its subsidiaries, focuses on property development, investment, and management, primarily in China.
YTD Price Performance: -8.99%
Average Trading Volume: 2,462,950
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.68B
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