Stock Movers | Sino-Ocean Service Fell Nearly 10% Previously, Estimated Loss for Last Year After Earlier Profit

SighingCashier · 2026-03-19T04:51:31+00:00

Far East Hospitality is expected to post a loss of 1.35 to 1.45 billion RMB last year, a turnaround from profitability. The stock price fell to 0.355 yuan at one point, representing a decline of 9%. The main reason is the sluggish Chinese real estate market, which has affected business settlement cycles and led to impairment provisions on receivables and inventory. For 2024, the company expects conditions to improve, with pre-recorded profit of approximately 28.9 million yuan.

SighingCashier

2026-03-19 04:51:31

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Ocean Services (06677) is expected to turn from profit to loss last year, with a maximum loss of 1.45 billion RMB. The stock price once dropped as much as 9%, reaching a low of 0.355 HKD.

As of 11:44 a.m., it was quoted at 0.36 HKD, down 7.7%, with a turnover of 7.9 million HKD.

The company announced that for the year ending last year, the attributable loss to shareholders was approximately 1.35 to 1.45 billion RMB, while a profit of about 28.9 million RMB was recorded for the same period in 2024.

The company stated that the loss last year was mainly due to the ongoing adverse impact of China’s real estate market and the overall downturn in the real estate sector, which led to longer settlement cycles for related businesses, resulting in increased impairment provisions for trade and other receivables, as well as increased impairment provisions for inventories and goodwill.

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