Wang On Group Limited (HK:1222) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Wang On Group Limited expects to post a loss of up to HK$850 million for the year ended March 31, 2024, a significant downturn from the previous year’s HK$12.8 million profit. The anticipated loss is mainly due to the prolonged slump in Hong Kong’s real estate market, reduced sales of residential projects, and increased finance costs. Shareholders and potential investors are advised to exercise caution in dealing with the company’s shares.
For further insights into HK:1222 stock, check out TipRanks’ Stock Analysis page.