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Elate Holdings (HKG:76) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
ELATE HOLDINGS: 2024 Interim Report
Elate Holdings [00076] is now trading at 0.385 Hong Kong dollars, with a decline of 11.49%.
As of 15:02, elate holdings [00076] reported HKD 0.385, a decrease of HKD 0.05 or 11.49% compared to the closing price of HKD 0.435 yesterday. The trading volume was HKD 0.0351 million. The highest price today was HKD 0.43, and the lowest price was HKD 0.385. Based on the closing price yesterday, the 10-day average price was HKD 0.36, and the 50-day average price was HKD 0.24. The current PE ratio is 11.76 times, and the 14-day strength index is at 77.19.
ELATE HOLDINGS: INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024
Elate Holdings Anticipates Profit Surge in H1
Elate Holdings (00076.HK) profit joy: Expected mid-term net income of 27.7 million US dollars.
Elate Holdings (00076.HK) announced on August 22nd that the group is expected to record a net income attributable to shareholders of approximately $27.7 million for the six months ending June 30, 2024 (compared to a net income of approximately $0.3 million for the same period in 2023). The board of directors believes that the increase in net income for the six months ending June 30, 2024 is mainly due to a one-time fair value gain of approximately $26.8 million recognized in the profit and loss from financial assets accounted for at fair value. Excluding the one-time fair value gain from financial assets, the company's net income is approximately $0.9 million, which is double the profit of the same period last year.
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