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Many real estate stocks surged by over 60%! On the first day of the new policies in Beijing, Shanghai, Guangzhou, and Shenzhen, some people even "bought houses in the air" overnight!
After the opening of the Hong Kong stock market, the real estate sector has the highest increase, with more than several individual stocks still rising by over 60% as of the time of writing.
STAR GROUP ASIA: INTERIM REPORT 2024
Star Group Asia Reports Escalating Half-Year Loss
star group co (01560.HK) first-half year revenue of 0.518 billion Hong Kong dollars, a year-on-year increase of 223.11%
Gelonghui August 29 | star group co (01560.HK) announced its interim results, with a group income of approximately 0.518 billion Hong Kong dollars, an increase of 223.11% year-on-year. The increase in income was mainly due to the completion of the project after the rain, which started selling in the second half of 2023. The company's attributable loss was approximately 0.219 billion Hong Kong dollars, compared to a loss of approximately 29.7 million Hong Kong dollars in the same period last year. The increase in losses was mainly due to (i) the sale of property units in the first half of 2024 with a gross loss of approximately 51.2 million Hong Kong dollars, while a gross profit of approximately 0.9 million Hong Kong dollars in the first half of 2023; (ii) the decrease in valuation of property held for sale in the first half of 2024 is 64
STAR GROUP ASIA: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2024
Star Group Co (01560.HK) profit warning: The estimated mid-term options equity holders' loss is HKD 0.22 billion.
Grants 29th of August, Star Group Co. (01560.HK) announced that for the six months ended on June 30, 2024, compared with the six months ended on June 30, 2023, the attributable surplus to equity holders of the company is approximately 30 million Hong Kong dollars, and the group is expected to record an attributable loss to equity holders of approximately 0.22 billion Hong Kong dollars during this period. The announcement stated that the increase in expected loss is mainly due to: (i) the gross loss from the sale of property units for this period is approximately 51 million Hong Kong dollars, compared to the gross profit of approximately 1 million Hong Kong dollars in the same period last year; (ii) the impairment of held-for-sale properties for this period is approximately 65 million Hong Kong dollars.
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