---
title: "GREATTOWN issues a profit warning, expecting a net loss of 1.96 billion to 2.35 billion yuan in 2024"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/225348363.md"
description: "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"
datetime: "2025-01-17T12:11:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/225348363.md)
  - [en](https://longbridge.com/en/news/225348363.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/225348363.md)
generator: "portal-rs"
---

# GREATTOWN issues a profit warning, expecting a net loss of 1.96 billion to 2.35 billion yuan in 2024

According to the Zhitong Finance APP, GREATTOWN (600094.SH) announced that it expects to achieve a net profit attributable to the owners of the parent company of approximately -1.96 billion to -2.35 billion yuan for the year 2024, which will result in a significant loss compared to the same period last year. It is expected that the net profit attributable to the owners of the parent company, after deducting non-recurring gains and losses, will be approximately -1.97 billion to -2.36 billion yuan for the year 2024.

During the reporting period, the majority of the areas where the company's development projects are located, including suburban Shanghai and other regional cities, still await market recovery. In order to achieve rapid cash recovery, the company has adopted measures to exchange price for market, increasing the intensity of price reductions and promotions across all formats in various regions. This measure has affected the realizable net value of the company's inventory and investment properties, which is lower than the book value, and it is expected to recognize inventory impairment provisions and investment property impairment provisions of approximately 1.9 billion to 2.1 billion yuan

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**