Century City International Holdings Limited ( (HK:0355) ) has issued an update.
Century City International Holdings Limited has issued a profit warning, anticipating a net loss of approximately HK$1,026 million for the year ending December 31, 2024, compared to a loss of HK$670.4 million the previous year. The increased loss is attributed to sluggish real estate market conditions in Hong Kong and China, leading to slower property sales and reduced profit contributions. Despite steady operations in its hotel business, high interest rates and substantial depreciation charges for its hotels have adversely impacted financial results. The final audited financial statements will be released on March 28, 2025.
More about Century City International Holdings Limited
Century City International Holdings Limited is primarily involved in property development and investment, as well as hotel ownership and operations. The company operates mainly in the real estate sectors of Hong Kong and China, with its hotel operations conducted through its listed subsidiary, Regal Hotels International Holdings Limited.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €37.94M
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