Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Pu’er Lancang Ancient Tea Co., Ltd. ( (HK:6911) ) has issued an update.
Pu’er Lancang Ancient Tea Co., Ltd. has issued a supplemental announcement to its 2024 annual report disclosing significant impairment losses on property, plant and equipment, right-of-use assets and trade receivables, following a marked deterioration in operating performance and a reported operating loss for the first nine months of 2024. Management identified impairment indicators in late 2024, engaged an independent valuer to perform value-in-use assessments of cash-generating units, and consequently recognised substantial write-downs, including RMB94.7 million on property, plant and equipment, RMB91.6 million on right-of-use assets, and a specific RMB3.1 million impairment tied to the early return of a low-utilisation leased office in Guangzhou, a move expected to reduce annual rental expenses by about RMB3.3 million and streamline office usage. In addition, the company reaffirmed its approach to provisioning for expected credit losses on trade receivables, signalling a tightening of risk management around asset quality and reflecting efforts to align its balance sheet more closely with current operating conditions and future cash flow expectations.
The most recent analyst rating on (HK:6911) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Pu’er Lancang Ancient Tea Co., Ltd. stock, see the HK:6911 Stock Forecast page.
More about Pu’er Lancang Ancient Tea Co., Ltd.
Pu’er Lancang Ancient Tea Co., Ltd. is a PRC-incorporated joint stock company listed in Hong Kong that operates in the tea industry, focusing on the production and sale of Pu’er and related tea products. The group’s operations involve branded marketing and distribution across multiple offices, with an emphasis on developing its brand and expanding market presence through promotion and business development activities.
Average Trading Volume: 9,907
Technical Sentiment Signal: Sell
Current Market Cap: HK$149.3M
For detailed information about 6911 stock, go to TipRanks’ Stock Analysis page.