Shanghai Electric Group Company ( (HK:2727) ) just unveiled an announcement.
Shanghai Electric Group Company Limited announced a provision for impairment for the year 2024, which was approved at the 108th meeting of its board of directors. The company reported a net decrease of RMB3,264.25 million in profit before taxation due to credit and asset impairment losses. These impairments were calculated in accordance with the Accounting Standards for Business Enterprises, reflecting the company’s financial and operational conditions. The announcement highlights the company’s efforts to maintain transparency and accuracy in its financial reporting, potentially impacting stakeholders’ perception of its financial health.
More about Shanghai Electric Group Company
Shanghai Electric Group Company Limited is a joint stock limited company incorporated in the People’s Republic of China. It operates in the industrial sector, focusing on the provision of equipment and services for power generation, industrial equipment, and integration systems. The company is listed on the Stock Exchange of Hong Kong and is known for its significant presence in the Chinese market.
YTD Price Performance: 3.24%
Average Trading Volume: 583,500
Technical Sentiment Signal: Sell
Current Market Cap: $14.68B
Learn more about 2727 stock on TipRanks’ Stock Analysis page.