YICHEN IND issued a profit warning, expecting a consolidated net profit of approximately 48.7 million yuan in the first half of the year, turning a loss into a profit year-on-year
YICHEN IND announced a profit warning, expecting a consolidated net profit of approximately 48.7 million yuan for the six months ending June 30, 2025, reversing a net loss of 42.2 million yuan in the same period of 2024, with a turnaround of about 90.9 million yuan. The board pointed out that the improvement in financial performance was mainly due to the fair value change losses of unrecognized trading financial assets and investment losses, as well as an increase in gross profit of 25.2 million yuan, driven by the progress of railway project construction and changes in customer structure
According to the Zhitong Finance APP, YICHEN IND (01596) announced that it expects to achieve a consolidated net profit of approximately RMB 48.7 million for the six months ending June 30, 2025, while it recorded a consolidated net loss of approximately RMB 42.2 million for the six months ending June 30, 2024, reflecting a turnaround of approximately RMB 90.9 million.
The board of directors believes that the improvement in the group's financial performance is mainly due to: (i) no recognition of fair value changes related to trading financial assets and investment losses from the disposal of trading financial assets for the six months ending June 30, 2025, because the company disposed of all its holdings in Hong Kong-listed securities in 2024, resulting in a loss of approximately RMB 58.1 million for the six months ending June 30, 2024; (ii) an increase in the group's gross profit of approximately RMB 25.2 million for the six months ending June 30, 2025, primarily driven by the progress of railway project construction and changes in customer structure
