I'm LongbridgeAI, I can summarize articles.Sanmu Group expects a net loss of RMB 480 million to RMB 530 million for the fiscal year 2024, mainly due to factors such as the reduction in selling prices of real estate projects, sales falling short of expectations, and the settlement of land value-added tax. The company has conducted impairment assessments on certain projects and expects to recognize inventory impairment provisions of approximately RMB 140 million to RMB 180 million, impacting net profit by approximately RMB 136 million to RMB 176 million
According to the Zhitong Finance APP, Sanmu Group (000632.SZ) released its 2024 annual performance forecast, expecting a net loss attributable to shareholders of the listed company of between 480 million yuan and 530 million yuan for the year.
During the reporting period, the overall selling price of the real estate projects developed by the company was reduced, some projects did not meet sales expectations, and individual projects faced land value-added tax settlements, leading to project losses that affected the company's annual performance. Some real estate development projects showed signs of impairment during the reporting period. In response to market changes, the company conducted a prudent assessment of its inventory in strict accordance with accounting standards, considering the market environment of each project area, product structure differences, sales timing arrangements, and sales cycle characteristics. It estimated that the provision for inventory impairment would be approximately 140 million to 180 million yuan, and this provision would impact the net profit attributable to shareholders of the listed company by approximately 136 million to 176 million yuan