Red Star Macalline Group Corporation Ltd Class H ( (HK:1528) ) just unveiled an announcement.
Red Star Macalline Group Corporation Ltd announced a provision for impairment of assets totaling RMB1,188,246,275.74 for the year 2024, which significantly impacts the company’s total profit by reducing it by RMB1,176,714,250.00. This move reflects the company’s adherence to the Accounting Standards for Business Enterprises and its accounting policies, addressing expected credit losses across various asset categories, including accounts receivable and contract assets. The impairment provisions are primarily due to the business management and construction decoration services segments, indicating a decrease in expected recoverable amounts from financial support projects.
More about Red Star Macalline Group Corporation Ltd Class H
Red Star Macalline Group Corporation Ltd is a sino-foreign joint stock company incorporated in China, focusing on the business management and construction decoration services segments. The company operates within the financial assets sector, dealing with accounts receivable, contract assets, and other financial instruments.
YTD Price Performance: -21.43%
Average Trading Volume: 344
Technical Sentiment Signal: Strong Buy
Current Market Cap: €1.55B
Learn more about 1528 stock on TipRanks’ Stock Analysis page.