Mayer Holdings Ltd. ( (HK:1116) ) has issued an update.
Mayer Holdings Limited has issued a profit warning for the financial year ended 30 June 2023, primarily due to the stalled re-development of Yuetang Village under its Target Group. The project has faced significant setbacks, including litigation against former management and failure to meet profit targets, leading to a one-off impairment loss of RMB335,056,000. The suspension of trading in Mayer Holdings’ shares continues as the company finalizes its financial results, with potential further impacts on its consolidated profit or loss.
More about Mayer Holdings Ltd.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$1.83B
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