HK Stock Market Move | WANDA HOTEL DEV(00169) surged nearly 36% with an expected turnaround from a loss to a profit of up to 1.9 billion Hong Kong dollars last year.

WANDA HOTEL DEV (00169) rose nearly 36% at one point, and as of the time of writing, it has risen by 30.34% to HK$0.116, with a turnover of HK$25.217 million. On the news front, on the evening of March 20, WANDA HOTEL DEV announced a profit, expecting to turn losses into profits by the end of the fiscal year ending December 31, 2025, with a surplus of approximately HK$1.75 billion to HK$1.9 billion for the current fiscal year. This is mainly due to the confirmation of net income of approximately HK$1.75 billion from the sale of all issued shares of the subsidiary Wanda Hotel Management (Hong Kong) Limited; offsetting the impairment loss of approximately HK$10.452 billion recognized when long-term receivables were transferred to held-for-sale properties at the end of 2024, with a portion offset by impairment losses on held-for-sale properties recognized in the fiscal year 2025 of approximately HK$17 million.