Shimao Property Holdings Reports 2024 Financial Results Amid Market Challenges

Shimao Property Holdings ( (HK:0813) ) has issued an announcement.

Shimao Property Holdings reported a slight increase in revenue for 2024, reaching approximately RMB59.975 billion, despite a challenging real estate market in China. The company faced a gross loss of RMB5.869 billion and a significant loss attributable to equity holders amounting to RMB35.905 billion. The company’s contracted sales were RMB34.002 billion, with a contracted gross floor area of 2.675 million sq.m. The Chinese government’s easing policies and financial support are expected to stabilize the market, potentially benefiting Shimao’s future operations.

More about Shimao Property Holdings

Shimao Property Holdings is a company primarily engaged in property development, hotel operations, commercial property management, and other related services in China. The company focuses on creating integrated business models to enhance product quality and customer satisfaction.

YTD Price Performance: -19.23%

Average Trading Volume: 3,960

Technical Sentiment Signal: Buy

Current Market Cap: $448.5M

For an in-depth examination of 0813 stock, go to TipRanks’ Stock Analysis page.