YE XING GROUP issues profit warning, expects mid-term net profit to increase to approximately 12.8 million yuan year-on-year
YE XING GROUP expects its interim net profit for the period ending June 30, 2025, to increase year-on-year to approximately 12.8 million yuan, compared to 6.6 million yuan in the same period last year. The growth in net profit is mainly attributed to an increase in gross profit to approximately 43.6 million yuan, a decrease in administrative expenses to approximately 18.9 million yuan, and a reduction in impairment losses on trade and other receivables to approximately 5.4 million yuan
According to the announcement from YE XING GROUP (01941), the group expects to achieve a profit attributable to owners of the company and total comprehensive income of approximately RMB 12.8 million for the six months ending June 30, 2025, compared to approximately RMB 6.6 million for the same period last year.
The increase in profit attributable to owners of the company and total comprehensive income is mainly due to (i) gross profit increasing from approximately RMB 41.1 million in the first half of 2024 to approximately RMB 43.6 million during the reporting period; (ii) administrative expenses decreasing from approximately RMB 21.5 million in the first half of 2024 to approximately RMB 18.9 million during the reporting period; (iii) impairment losses on trade and other receivables and impairment losses on receivables from related parties decreasing from approximately RMB 8.6 million in the first half of 2024 to approximately RMB 5.4 million during the reporting period
