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PKU RESOURCES: 2024 INTERIM REPORT
PKU RESOURCES: INTERIM RESULTSFOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024
Peking University Resources Expects Swing to Loss in Fiscal H1; Shares Slide 3%
Peking University Resources: Weak Contributions From Property Business, Asset Impairment Weighed on Results >0618.HK
Peking University Resources 1H23 Profit Was CNY166.0M >0618.HK
pku resources (00618.HK) is expected to incur a mid-term loss of approximately 1.2 billion to 1.5 billion yuan.
On November 26, Glonghui reported that pku resources (00618.HK) announced that the group expects to record a loss of approximately RMB 1200 million to RMB 1500 million for the six months ending September 30, 2024, compared to a profit of approximately RMB 166 million in the same period last year. The expected loss during this period is mainly due to the following reasons: (i) a decrease in the delivered area of property development projects, which led to a reduction in gross profit from the property development business; (ii) due to the continued downturn in the real estate market, large inventory impairment provisions need to be recognized during this period; and (iii) due to the group extending its investments in March 2022.
Peking University Resources (Holdings) Company Limited (HKG:618) May Have Run Too Fast Too Soon With Recent 25% Price Plummet