LISI GP HOLD issued a profit warning, expecting annual net profit to drop to no more than 40 million yuan
LISI GP HOLD issued a profit warning, expecting the annual net profit for the year ending March 31, 2025, to drop to no more than 40 million yuan, a significant decrease from approximately 325.1 million yuan in the same period of 2024. The board pointed out that the main reasons for the profit decline include a reduction in pre-tax earnings due to the local government's reclamation of land in Ningbo, an increase in potential valuation losses from the revaluation of investment properties, and an expected increase in impairment losses on financial assets and contract assets
According to the Zhitong Finance APP, LISI GP HOLD (00526) announced that it expects the group to achieve a net profit of no more than RMB 40 million for the year ending March 31, 2025, compared to a net profit of approximately RMB 325.1 million for the same period in 2024.
The board believes that the decrease in net profit is mainly due to the following reasons: for the year ending March 31, 2024, the group obtained a net pre-tax income of approximately RMB 131.2 million due to the local government of Ningbo, People's Republic of China, reclaiming land; the group expects to incur increased valuation losses due to the revaluation of its investment properties on March 31, 2025; and the group anticipates that impairment losses on financial assets and contract assets will increase as of March 31, 2025
