Bright Real Estate issues a profit warning, expecting a net loss of 900 million to 1.03 billion yuan for the fiscal year 2024

According to the Zhitong Finance APP, Bright Real Estate (600708.SH) released its annual performance forecast for 2024, expecting a net loss attributable to the parent company of between 900 million and 1.03 billion yuan, indicating a loss compared to the same period last year.

The loss during the reporting period is mainly due to the decline in the scale and profit of the company's real estate development business. In the context of significant changes in the supply and demand relationship in the real estate market, ongoing industry adjustments, and increasingly fierce market competition, the company dynamically adjusts its operational and sales strategies based on market conditions, actively seizes policy windows, increases efforts to promote sales, accelerates capital recovery, and speeds up its return to Shanghai to ensure overall balance in investment and financing, resulting in a decrease in the gross profit margin of projects recognized during the reporting period