CPM GROUP issues a profit warning, expecting a loss attributable to shareholders of approximately HKD 28 million to HKD 32 million in the first half of the year
CPM GROUP expects a shareholder loss of approximately HKD 28 million to 32 million in the first half of 2025, a significant increase compared to HKD 15 million in the same period of 2024. The loss is mainly due to a decline in sales revenue from paint and coating products, affected by the economic slowdown in mainland China and Hong Kong, a weak real estate market, and intensified industry competition. In addition, the group's investment properties in mainland China also experienced fair value losses
According to the Zhitong Finance APP, CPM GROUP (01932) announced that it expects a shareholder loss of approximately HKD 28 million to HKD 32 million in the first half of 2025, compared to a shareholder loss of HKD 15 million in the same period of 2024.
The announcement stated that the estimated amount of shareholder loss has significantly increased, mainly due to the following factors: a significant decline in sales revenue of paint and coating products during the period. The decline in sales revenue is primarily due to the economic slowdown in mainland China and Hong Kong, a weak real estate market, and intense competition in the paint and coating industry; the decrease in sales revenue of the group's paint and coating products has led to a significant decline in gross profit; and the group's investment properties in mainland China experienced fair value losses during the six months of 2025, compared to a fair value gain of HKD 3.2 million in the same period of 2024
