Wang On Properties Faces Steep Financial Decline

Wang On Properties Ltd. (HK:1243) has released an update.

Wang On Properties Ltd. reported a challenging fiscal year with a significant downturn, as their final results for the year ended 31 March 2024 show an 85% decrease in revenue and a 447% shift from profit to loss per share, compared to the previous year. The company also faced a drastic increase in write-downs of properties under development. These results indicate a tough period for the company with a notable impact on its financial performance and stock valuation.

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