HK Stock Market Move | COUNTRY GARDEN (02007) stock rose by over 6% following a profit forecast of up to 2.2 billion yuan last year, turning losses into profits.
Country Garden (02007) rose more than 6%, as of the time of writing, it increased by 6.67%, closing at 0.32 Hong Kong dollars, with a turnover of 21.9349 million Hong Kong dollars.
COUNTRY GARDEN (02007) rose by more than 6%, reaching 6.67% at the time of writing, closing at HKD 0.32 with a turnover of HKD 219.349 million.
In terms of news, on the evening of March 23, COUNTRY GARDEN announced a profit forecast, expecting a profit of between 1 billion and 2.2 billion for the year 2025, compared to a loss of 35.145 billion in the previous year. Based on the information currently available, the main reason for the return to profit this year is due to non-cash gains recorded by the group from completing debt restructuring. Excluding the impact of the aforementioned debt restructuring gains, the group's losses are mainly attributed to pressure on the gross profit level of the development business due to industry influences, as well as further provisions for impairment of certain assets and property projects.
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