Kennede: Expected loss of 28 million to 38 million yuan in the first half of the year

Kennede disclosed its performance forecast on the evening of July 11, expecting a net loss attributable to shareholders of the listed company of 28 million to 38 million yuan in the first half of 2025, a shift from profit to loss year-on-year. During the reporting period, the company continued to reduce the scale of its engineering construction business, resulting in a significant decrease in revenue from this segment, while related expenses could not be reduced year-on-year, leading to a decline in profits. Due to intensified market competition in the home appliance business and factors such as the economic, political, and climate conditions in the countries where the company's clients are located, product orders decreased in the first half of the year, leading to a decline in revenue; insufficient capacity utilization due to reduced order revenue, high fixed costs, and a decrease in gross profit led to a decline in profits