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Sitoy Group Holdings Limited ( (HK:1023) ) has provided an announcement.
Sitoy Group Holdings Limited has issued a profit warning, indicating an expected loss of HK$170 million to HK$190 million for the year ending June 2025, compared to a profit of HK$101.9 million in 2024. This downturn is attributed to a non-cash fair value revaluation decrease in investment properties and a significant loss from terminating the Cole Haan business. The manufacturing segment is experiencing decreased revenue due to global economic uncertainties, while the retail segment, despite increased revenue from e-commerce efforts, is impacted by the Cole Haan termination. The property investment segment also faces challenges due to declining office building prices in Hong Kong. Despite the anticipated losses, the company’s dividend payout policy remains unchanged.
The most recent analyst rating on (HK:1023) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Sitoy Group Holdings Limited stock, see the HK:1023 Stock Forecast page.
More about Sitoy Group Holdings Limited
Sitoy Group Holdings Limited is a company incorporated in the Cayman Islands, operating in the manufacturing and retail sectors. It focuses on producing and selling leather goods, handbags, and accessories, with a significant emphasis on e-commerce platforms.
Average Trading Volume: 968,579
Technical Sentiment Signal: Buy
Current Market Cap: HK$500.6M
For a thorough assessment of 1023 stock, go to TipRanks’ Stock Analysis page.