---
title: "\"Profit Warning\" REF Holdings expects last year's net profit to decline by 40% to 50% year-on-year"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/276397548.md"
description: "REF Holdings issued a profit warning, expecting that the net profit for the year ending December 31, 2025, will decline by approximately 40% to 50% compared to the net profit of about HKD 5.7 million for the same period in 2024, mainly due to a decrease in revenue"
datetime: "2026-02-20T00:36:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/276397548.md)
  - [en](https://longbridge.com/en/news/276397548.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276397548.md)
---

# "Profit Warning" REF Holdings expects last year's net profit to decline by 40% to 50% year-on-year

REF Holdings (01631.HK) issued a profit warning, expecting that the net profit for the year ending December 31, 2025, will decline by approximately 40% to 50% compared to the net profit of about HKD 5.7 million for the same period in 2024, mainly due to a decrease in revenue

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