Lippo Limited ( (HK:0226) ) just unveiled an announcement.
Lippo Limited has issued a profit warning, indicating a significant financial downturn for the year ending December 31, 2024. The company anticipates a consolidated loss attributable to shareholders of approximately HK$1,400 million, a stark increase from the HK$35 million loss in the previous year. This downturn is primarily due to substantial losses from joint ventures, a net fair value loss on financial instruments, impairment losses on fixed assets due to declining commercial property prices, and litigation settlement payments. Despite these challenges, the company has offset some losses with profits from its associates.
More about Lippo Limited
Lippo Limited is a company incorporated in Hong Kong with limited liability, operating in various sectors through its subsidiaries. The company is listed on the Hong Kong Stock Exchange and engages in diverse business operations.
YTD Price Performance: -73.81%
Average Trading Volume: 124,000
Technical Sentiment Signal: Buy
Current Market Cap: €24.02M
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