C CHENG HLDGS issues a profit warning, expecting mid-term profits of no less than HKD 50 million
C CHENG HLDGS expects that the interim profit for the period ending June 30, 2025, will not be less than HKD 50 million, a significant improvement compared to a loss of approximately HKD 12 million in the first half of 2024. The main reasons are the recognition of non-recurring other income of approximately HKD 49 million, as well as an increase in the share of profits from joint ventures and strengthened cost control measures
According to the Zhitong Finance APP, C CHENG HLDGS (01486) announced that it expects the group to achieve a profit of no less than HKD 50 million for the six months ending June 30, 2025 (loss of approximately HKD 12 million in the first half of 2024).
The main reason for the group's turnaround from loss to profit is due to the recognition of non-recurring other income (excluding depreciation) of approximately HKD 49 million during the period from the exercise of the right of use (as defined in the circular dated May 22, 2025, regarding the major transaction of exercising the right of use), an increase in the share of profits from joint ventures, and improvements in financial performance brought about by strengthened cost control measures and streamlined operating expenses
