Minmetals Land (00230) plunged 26% during trading, and as of the time of writing, the drop was 19.12%, with a price of HK$0.275 and a turnover of HK$1.5954 million.
According to the Wisdom Wealth App, Minmetals Land (00230) fell sharply during trading, and as of the time of writing, the drop was 19.12%, with a price of HK$0.275 and a turnover of HK$1.5954 million.
On the news front, Minmetals Land issued a profit warning, expecting to hold losses of about HK$1 billion attributable to shareholders until the end of June 30, 2024. During the same period last year, the company's shareholders had profits of about HK$0.112 billion. The main reason is the significant decrease in income from real estate development business, the significant decrease in gross margin of real estate development business, and the recognition of inventory impairment provisions and impairment losses recognized based on expected credit losses models during the period.
