Sanmu Group issues a profit warning, expecting a net loss of 480 million to 530 million yuan for the fiscal year 2024
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Sanmu Group expects a net loss of RMB 480 million to RMB 530 million for the fiscal year 2024, mainly due to factors such as the reduction in selling prices of real estate projects, sales falling short of expectations, and the settlement of land value-added tax. The company has conducted impairment assessments on certain projects and expects to recognize inventory impairment provisions of approximately RMB 140 million to RMB 180 million, impacting net profit by approximately RMB 136 million to RMB 176 million
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