Wonderful Sky Forecasts Significant Annual Loss

Wonderful Sky Financial Group Holdings Limited (HK:1260) has released an update.

Wonderful Sky Financial Group Holdings Limited has issued a profit warning for the fiscal year ending 31 March 2024, anticipating a loss of at least HK$65 million, contrasting sharply with the prior year’s profit of HK$27.2 million. The anticipated loss is attributed to a sluggish IPO market in Hong Kong, currency exchange losses due to the Renminbi’s depreciation, and increased impairment losses on financial assets. Shareholders and potential investors are urged to exercise caution when dealing with the company’s shares.

For further insights into HK:1260 stock, check out TipRanks’ Stock Analysis page.