HK Stock Market Move | MINERVA GROUP (00397) falls more than 8% as the company recently issued a profit warning, expecting a comprehensive annual loss of no less than 48.4 million Hong Kong dollars.

MINERVA GROUP (00397) fell by over 8%, dropping to 0.066 Hong Kong dollars, with a turnover of 3.5361 million Hong Kong dollars as of the time of publication. On the news side, MINERVA GROUP had previously issued a profit warning announcement, expecting to incur a comprehensive loss of not less than 48.4 million Hong Kong dollars for the year ending December 31, 2024, compared to a comprehensive loss of 104.1 million Hong Kong dollars last year. The announcement stated that the expected annual loss is mainly attributed to an estimated loss of approximately 74.7 million Hong Kong dollars from fair value changes in financial assets recognized at fair value through profit or loss, mainly due to unrealized losses on listed equity securities.