Wing Tai Properties Limited ( (HK:0369) ) has issued an update.
Wing Tai Properties Limited reported a challenging year in 2024 due to high interest rates, US-China tensions, and weak investment sentiment impacting the Hong Kong property market. The company recorded a substantial non-cash net valuation loss of HK$2,652 million on its property portfolio, contributing to a consolidated loss attributable to shareholders of HK$2,560 million. Despite these challenges, the company maintained a core consolidated profit of HK$92 million and recommended a final dividend of HK4.0 cents per share. The company is strategically positioning its projects, such as the pre-sale launch of residential projects and maintaining high occupancy rates in its Hong Kong and London office properties, to navigate the subdued market conditions.
More about Wing Tai Properties Limited
Wing Tai Properties Limited is a company incorporated in Bermuda with limited liability, primarily engaged in property development and management. The company focuses on residential and commercial properties, with a significant presence in the Hong Kong and London markets.
YTD Price Performance: -20.0%
Technical Sentiment Signal: Buy
Current Market Cap: €253.4M
See more data about 0369 stock on TipRanks’ Stock Analysis page.