SH IND URBAN issued a profit warning, expecting a loss attributable to shareholders of approximately HKD 470 million to HKD 530 million for the first half of the year
SH IND URBAN expects that in the first half of 2025, the loss attributable to the company's owners will be approximately HKD 470 million to HKD 530 million, an increase from the loss of approximately HKD 232 million in the same period of 2024. The reasons for the loss include a decrease in property sales revenue of about 45% and a decrease in gross profit of about 50% to 60%
According to the Zhitong Finance APP, SH IND URBAN (00563) announced that it expects the company to incur a loss attributable to owners of approximately HKD 470 million to HKD 530 million in the first half of 2025 (compared to a loss of approximately HKD 232 million attributable to owners in the first half of 2024).
The announcement stated that the expected loss is mainly due to the following reasons: property sales revenue decreased by approximately 45% compared to the same period in 2024, primarily due to reduced sales from multiple projects; and gross profit decreased by approximately 50% to 60% compared to the same period in 2024, mainly due to reduced sales and lower gross profit margins of delivered residential projects during the period
