On August 16th, Hang Seng Indexes Company announced the latest quarterly review results, in which Cosmopol Int'l (00120) was removed from the Hang Seng Composite SmallCap Index. The change will be implemented after the market close on September 6th, 2024 (Friday) and will take effect from September 9th, 2024 (Monday).
Zhongjin Research Report pointed out that Cosmopol Int'l may be removed from the Hong Kong stock exchange due to reasons such as declining market cap, insufficient liquidity, or violation of relevant regulations.
In the secondary market, Cosmopol Int'l's stock price has been falling for several days, with a decline of over 15% since August 9th. As of now, the stock price closed at HKD 0.315.
From a performance perspective, Cosmopol Int'l previously announced in March that it is expected to have a loss of approximately HKD 0.372 billion in 2023, while achieving a net profit of HKD 4 million in 2022. This is mainly because the profit contribution from the property sales of the two development projects in Chengdu and Tianjin owned by the group during the year is not significant. In addition, considering the continuous downward adjustment of overall property prices, the group has provided for impairment losses of approximately HKD 0.172 billion for part of the two development projects.