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China Ting: Increase in Provision for Finished Goods Inventories, Fair Value Loss on Assets Hurt Results >3398.HK
CHINA TING (03398.HK) profit warning: anticipated net loss of 0.45 billion to 0.55 billion Hong Kong dollars in 2024.
On March 25, Grayscale reported that CHINA TING (03398.HK) announced that the group will continue to record a comprehensive loss attributable to equity holders of the company ranging from 0.45 billion to 0.55 billion Hong Kong dollars for the fiscal year 2024, compared to a net loss of 0.36 billion Hong Kong dollars for the year ending December 31, 2023. The net loss is mainly due to the following items: (a) fair value losses on the group's properties, factories and equipment, right-of-use assets, and investment properties; (b) the recognition of deferred tax liabilities arising from the revaluation of new investment properties in the second half of the fiscal year 2024; and (c) an increase in the provision for finished goods inventory.
CHINA TING (03398) issued a profit warning, expecting the consolidated loss attributable to Shareholders for the year 2024 to widen year-on-year to between 0.45 billion and 0.55 billion Hong Kong dollars.
CHINA TING (03398) announced that the group will conclude its fiscal year 2024 (ending December 31, 2024)...
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