Mingfa Group (International) Co. Ltd. ( (HK:0846) ) has shared an announcement.
Mingfa Group has issued a profit warning, anticipating a significant increase in losses for the year ending December 31, 2024, with expected losses ranging from RMB1,600 million to RMB2,200 million, compared to RMB643.1 million in the previous year. The primary reason for this anticipated loss is attributed to a decrease in the valuation of its investment properties, reflecting a broader decline in the market value of commercial properties in the PRC.
More about Mingfa Group (International) Co. Ltd.
Mingfa Group (International) Co. Ltd. is a company incorporated in the Cayman Islands, primarily engaged in the real estate industry, focusing on investment properties in the People’s Republic of China (PRC).
YTD Price Performance: -34.12%
Average Trading Volume: 186,369
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$639.8M
Learn more about 0846 stock on TipRanks’ Stock Analysis page.