The latest update is out from Radiance Holdings (Group) Company Limited ( (HK:9993) ).
Radiance Holdings has issued a profit warning, indicating a significant increase in net loss for the year 2024, expected to reach up to RMB9,500 million compared to RMB600 million in 2023. This substantial loss is attributed to weak market sentiment in the real estate sector, leading to decreased sales prices and gross profit margins, increased impairment losses on properties, and lower occupancy rates and rental levels, which also resulted in fair value losses on investment properties.
More about Radiance Holdings (Group) Company Limited
Radiance Holdings (Group) Company Limited operates in the real estate industry, focusing on real estate development and property management services. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
YTD Price Performance: -11.99%
Average Trading Volume: 1,381,210
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$10.4B
Learn more about 9993 stock on TipRanks’ Stock Analysis page.