Shares of Legend Holdings Corp (03396.HK) plummeted 6.48% during intraday trading on Friday, as investors reacted to the company's latest financial results. The significant drop came as the market digested the news of the company's fiscal year performance.
According to the financial report released by Legend Holdings, the company recorded a net loss attributable of RMB 133 million for the fiscal year. Despite the loss, the company managed to generate a substantial revenue of RMB 512,806 million during the same period.
The reported net loss appears to have spooked investors, leading to the sharp decline in stock price. This financial performance may raise concerns about the company's profitability and future prospects, potentially impacting investor confidence in the short term. Analysts and shareholders will likely be closely monitoring Legend Holdings' strategies to return to profitability in the coming quarters.
