Paliburg Holdings Limited ( (HK:0617) ) has provided an announcement.
Paliburg Holdings Limited reported a consolidated loss of HK$1,643.4 million for the year ending December 31, 2024, a substantial increase from the previous year’s loss of HK$1,042.0 million. The company’s financial performance was adversely affected by sluggish real estate market conditions in Hong Kong and China, which led to slower-than-expected property sales and reduced profit contributions. Despite the competitive market, the company’s hotel operations remained steady. However, high interest rates in Hong Kong and significant depreciation charges on owned hotels negatively impacted the financial results.
More about Paliburg Holdings Limited
Paliburg Holdings Limited operates primarily in the property development and investment sector, as well as hotel ownership and operations. The company is significantly involved in the real estate markets of Hong Kong and China, with its hotel operations managed through its subsidiary, Regal Hotels International Holdings Limited.
YTD Price Performance: -8.65%
Average Trading Volume: 98,150
Technical Sentiment Signal: Buy
Current Market Cap: HK$529.4M
Learn more about 0617 stock on TipRanks’ Stock Analysis page.