KIN PANG HLDGS issues a profit warning, expecting to turn a loss into a profit of approximately 400,000 Macanese Patacas in the first half of the year compared to the same period last year
KIN PANG HLDGS expects a net profit of approximately MOP 400,000 in the first half of 2025, turning a profit from a net loss of approximately MOP 11.3 million in the same period of 2024. The main reason is that the gross profit margin of construction and supporting services projects increased from 1.3% to 4.4%, while administrative expenses and credit loss impairments decreased, although rising financing costs had a certain impact on performance
According to the Zhitong Finance APP, KIN PANG HLDGS (01722) announced that the group expects to achieve a net profit of approximately MOP 400,000 in the first half of 2025, compared to an unaudited consolidated net loss of approximately MOP 11.3 million in the same period of 2024.
The board of directors believes that the increase in net profit during this period compared to the same period in 2024 is mainly due to the gross profit margin of construction and supporting service projects increasing from approximately 1.3% to approximately 4.4%, as well as a reduction in administrative expenses and impairment losses under the expected credit loss model, although this was offset by increased financing costs
