"Profit Warning" HEVOL SERVICES profits expected to decline, with a maximum profit of 15.6 million RMB in half a year
HEVOL SERVICES (06093.HK) issued a profit warning, expecting a net profit after tax of between RMB 11.6 million and RMB 15.6 million for the six months ending in June, compared to RMB 54.1 million in the same period last year. The decrease in profit is mainly due to the early stage of investment in new property management projects and lower gross profit margins in public construction projects, leading to a decline in gross profit margin; an increase in credit impairment provisions; and a one-time loss from the sale of subsidiary equity
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