tiprankstipranks
Evergrande Warns of Profit Drop Amidst Financial Gains
Company Announcements

Evergrande Warns of Profit Drop Amidst Financial Gains

Evergrande Property Services Group Ltd. (HK:6666) has released an update.

Don't Miss our Black Friday Offers:

Evergrande Property Services Group Ltd has issued a profit warning, projecting a 37% decrease in net profit despite a slight revenue increase for the first half of 2024. The decline is attributed to higher service quality investments, legal expenses, bad debt losses, and a conservative revenue recognition approach for high-risk customers. The company reassures investors with an improved financial position, showing increased monetary funds and net assets.

For further insights into HK:6666 stock, check out TipRanks’ Stock Analysis page.

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App