Pinestone Narrows Loss as Fee Income Rises but Lending Pressures Persist
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Pinestone Capital Ltd, a Hong Kong-listed financial services provider, reported an 11% revenue increase to HK$28.4 million for 2025, driven by higher fee income from placing, underwriting, and brokerage. However, the company faced pressures in securities-backed lending, resulting in a net loss of HK$17.3 million, despite a 45% reduction in losses due to lower impairment charges. The board decided to withhold the final dividend. The latest analyst rating for the stock (HK:0804) is a Sell with a price target of HK$3.00.
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