China Financial Services Holdings Limited ( (HK:0605) ) has shared an update.
China Financial Services Holdings Limited has issued a positive profit alert, indicating a significant turnaround from a net loss of approximately HK$160.0 million in 2023 to an expected net profit of not less than HK$35.0 million for the year ending December 2024. This improvement is attributed to the reversal of liabilities from loan guarantees, a reduction in interest and handling expenses, and a decrease in impairment loss on loan receivables, reflecting a gradual recovery in China’s property market.
More about China Financial Services Holdings Limited
China Financial Services Holdings Limited is a company incorporated in Hong Kong, operating in the financial services industry. The company, along with its subsidiaries, focuses on providing financial solutions, including loan and interest services, and is listed on the Hong Kong Stock Exchange.
YTD Price Performance: -10.83%
Average Trading Volume: 645,519
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$283.3M
See more data about 0605 stock on TipRanks’ Stock Analysis page.