GREATTOWN issues a profit warning, expecting a net loss of 1.96 billion to 2.35 billion yuan in 2024
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GREATTOWN expects a net loss of RMB 1.96 billion to RMB 2.35 billion in 2024, a significant loss compared to the same period last year. After deducting non-recurring gains and losses, the net profit is expected to be between -RMB 1.97 billion and -RMB 2.36 billion. To quickly recover cash, the company has implemented price reduction promotions, resulting in the net realizable value of inventory and investment properties being lower than their book value. It is expected to recognize inventory write-downs and impairment provisions for investment properties of approximately RMB 1.9 billion to RMB 2.1 billion
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