Success Universe Group Issues Profit Warning Amid Significant Losses

Success Universe Group Limited ( (HK:0487) ) has issued an announcement.

Success Universe Group Limited has issued a profit warning, indicating a significant decrease in its unaudited consolidated profit for the year ended December 31, 2024, by approximately 40% to 50% compared to the previous year. This decline is primarily attributed to increased fair value loss on investment properties, a write-down of property stocks, and a substantial impairment loss on leasehold land and buildings, despite a gain from the disposal of overseas listed equity securities. These losses are non-cash items and do not affect the company’s cash flow, but stakeholders are advised to exercise caution when dealing with the company’s shares.

More about Success Universe Group Limited

Success Universe Group Limited operates in the investment and property sectors, with a focus on investment properties and flagship projects such as Ponte 16.

YTD Price Performance: -23.00%

Average Trading Volume: 475,424

Technical Sentiment Consensus Rating: Sell

Current Market Cap: HK$394.1M

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