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Sino-Ocean Group Holding ( (HK:3377) ) has provided an update.
Sino-Ocean Group Holding announced its annual results for 2024, revealing a challenging year due to the ongoing downturn in China’s real estate market. The company reported a 49% decrease in revenue and a gross loss of RMB398 million, attributed to market adjustments and impairments on property projects. Despite policy measures by the Chinese government to stabilize the market, the company faced significant losses, highlighting the need for business transformation and risk management in the industry.
More about Sino-Ocean Group Holding
Sino-Ocean Group Holding is a company operating in the real estate industry, primarily engaged in property development and investment. The company focuses on the Chinese market, dealing with residential and commercial properties.
YTD Price Performance: 17.50%
Average Trading Volume: 294,100
Technical Sentiment Signal: Hold
Current Market Cap: $217.8M
Learn more about 3377 stock on TipRanks’ Stock Analysis page.