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WANG ON GROUP (01222.HK) held a board of directors meeting on November 27 to discuss and approve the interim performance.
Grantham11, announced on November 15, WANG ON GROUP (01222.HK) disclosed that the company will hold a board of directors meeting on November 27, 2024 (Wednesday) to consider and approve (including) the company and its subsidiaries' interim performance for the six months ended September 30, 2024, and to consider the distribution of interim dividends (if any).
Standard & Poor's expects that Hong Kong property prices will stabilize next year, raising the sales volume forecast for new projects to 0.02 million units.
Rating agency Standard & Poor's released a report stating that after a nearly 30% decline in high Hong Kong property prices in 2021, they are expected to stabilize next year. However, local developers are still struggling, mainly due to high inventory, and the recognition of residential projects purchased during the period of high land prices will further pressure profit margins. Nevertheless, Standard & Poor's believes that with the government relaxing housing market measures and interest rates trending downwards, they have revised their forecast for next year's new home sales volume to 0.02 million units. In addition, Standard & Poor's expects that the future three to four years' new supply may exceed 80% of the government's ten-year private residential supply target.
Wang On Group Secures Key Lease Renewals
Wang On Group (01222) subsidiary Rich Century Investment Limited renewed the lease agreement on a Hong Kong property.
WANG ON GROUP (01222) announced on August 2, 2024:
Wang On Group Schedules AGM and Share Resolutions
WANG ON GROUP: 2024 ANNUAL REPORT
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