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An update from Poly Property Group Co ( (HK:0119) ) is now available.
Poly Property Group Co., Limited has issued a profit warning, indicating an expected 80% to 90% drop in profit attributable to its owners for the fiscal year ending December 31, 2024, compared to 2023. This decline is attributed to a downturn in the market and increased provisions for properties under development and held for sale, resulting in a decreased gross profit margin. Stakeholders are advised to exercise caution when dealing with the company’s shares, as the financial results are still being finalized and the actual outcomes may vary from current estimates.
More about Poly Property Group Co
Poly Property Group Co., Limited is a company incorporated in Hong Kong, primarily operating in the property development sector. The company focuses on the development and sale of properties, with a significant presence in the Hong Kong real estate market.
YTD Price Performance: -5.08%
Average Trading Volume: 5,600
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $716.1M
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