Vanke Property (Overseas) (HK:1036) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Vanke Overseas Investment Holding Company Limited has issued a profit warning, announcing an anticipated loss of HK$29 million for the six months ending June 30, 2024, a stark decrease from the HK$3 million profit reported in the same period the previous year. The expected loss is primarily due to impairment provision for the company’s development properties, although the company maintains a net debt ratio of zero and assures that operations and development projects are stable. Investors are urged to exercise caution and seek independent advice when dealing with the company’s shares.
For further insights into HK:1036 stock, check out TipRanks’ Stock Analysis page.