"Profit Warning" JTF INTL estimates interim losses to expand to no more than 5.5 million RMB

JTF INTL (09689.HK) issued a profit warning, expecting a loss of no more than RMB 5.5 million for the six months ending in June, compared to a loss of RMB 750,000 in the same period last year. The increase in loss is mainly due to the group's suspension of the project to increase the berthing capacity of the oil depot in Zengcheng and the termination of the contract with the project's general contractor, resulting in the write-off of prepayments made to the general contractor and construction assets totaling approximately RMB 5.94 million