UCASU Expected to Report $0.02/share Net Profit for 2024

ATLANTA, March 3, 2025 /PRNewswire/ -- UC Asset LP (OTCQB: UCASU) announces today that the company is expected to report approximately $120,000 in net income, or, $0.02 per share, for the fiscal year of 2024, based on its unaudited financial statements.

The final results may vary subject to independent auditing. However, the company believes that there should be no substantial change, based on its history of auditing.  

The company has been reporting net profits for most fiscal years since its incorporation. It reported a net profit of $0.01 per share for the year 2023, a net profit of $0.12 per share for the year 2021, and $0.02 per share for the year 2020. However, it suffered a net loss for the fiscal year of 2022, which management attributed to the changed economic environment, including the interest rate hike.

"We wish we could post better numbers, but the whole real estate industry had not been doing very well since the interest rate hike starting in 2022," says Larry Wu, founder of UC Asset. "The good news is that the downward movement of interest rates started in 2024 and will likely continue in 2025 and through the upcoming years. Besides, we have made promising adjustments to our portfolio which, under a more favorable interest environment, will likely deliver higher returns."

The company has recently announced a plan to launch a secondary public offering (SPO) via Reg A, under which the company will offer up to $10 million in preferred shares carrying a preferred dividend of 8% per annum.

About UC Asset LP

UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies.  For more information about UC Asset, please visit: www.ucasset.com

Disclaimer:

This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.

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SOURCE UC Asset LP