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The latest update is out from Shanghai Industrial Urban Development Group Ltd ( (HK:0563) ).
Shanghai Industrial Urban Development Group Ltd has issued a profit warning, anticipating a significant loss for the year ending December 31, 2024, ranging from HK$300 million to HK$360 million. This downturn is attributed to a decrease in gross profit margins due to fewer high-margin projects, reduced selling prices, and impairment losses on property projects. Additionally, a substantial revaluation loss on investment properties, driven by market adjustments in the Chinese Mainland, has further impacted the company’s financial performance.
More about Shanghai Industrial Urban Development Group Ltd
Shanghai Industrial Urban Development Group Ltd is involved in the real estate industry, focusing on urban development projects. The company operates primarily in the Chinese Mainland, delivering a range of property projects.
YTD Price Performance: -8.11%
Average Trading Volume: 1,055,883
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$1.63B
See more data about 0563 stock on TipRanks’ Stock Analysis page.