Shui On Land ( (HK:0272) ) has shared an update.
Shui On Land Limited has issued a profit warning for its 2024 annual results, anticipating a significant decline in net profit to between RMB800 million and RMB825 million, down from RMB1,397 million in 2023. This decrease is mainly due to fewer residential project completions amid a fragile Chinese economy and modest growth in the property market. The company plans to continue prudent financial management and strategic reviews to sustain long-term growth.
More about Shui On Land
Shui On Land Limited is a real estate development company incorporated in the Cayman Islands, focusing on property development and investment in China. The company operates through its subsidiaries and joint ventures, primarily engaging in residential and commercial property projects.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $741.5M
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