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Vanke Property (Overseas) ( (HK:1036) ) has provided an announcement.
Vanke Overseas Investment Holding Company Limited has issued a profit warning, anticipating a loss of approximately HK$50 million for the year ending December 31, 2024, compared to a profit of HK$28 million in the previous year. The loss is attributed mainly to non-cash provisions on development properties, which do not affect cash flow, and the company remains financially stable with ongoing projects proceeding as planned.
More about Vanke Property (Overseas)
Vanke Overseas Investment Holding Company Limited, incorporated in the Cayman Islands, operates within the property development industry. The company focuses on managing and developing real estate projects, maintaining a financially stable position with a net debt ratio of zero, indicating a healthy financial status despite market fluctuations.
YTD Price Performance: 24.60%
Average Trading Volume: 67,160
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$611.6M
Learn more about 1036 stock on TipRanks’ Stock Analysis page.