ORANGE SKY G H issues a profit warning, expecting net profit attributable to shareholders of no less than HKD 125 million in the first half of the year, turning from loss to profit year-on-year

According to the Zhitong Finance APP, ORANGE SKY G H (01132) announced that the group expects to achieve a net profit attributable to shareholders of no less than HKD 125 million in the first half of 2025, while the net loss for the first half of 2024 was HKD 81 million.

The announcement stated that the net profit attributable to shareholders in the first half of 2025 is mainly due to the net impact of the following items: non-recurring net gains of approximately HKD 19 million and HKD 46 million from the reversal of reset cost provisions and lease modifications resulting from the termination of certain cinema leases in Hong Kong; non-recurring net gains of approximately HKD 39 million from lease modifications of other cinemas; an income tax credit of HKD 33 million arising from the reversal of deferred tax liabilities due to the sale of a property in Singapore; a non-financial asset impairment loss of HKD 313 million in the same period last year, with no related impairment recognized during the period; non-recurring net gains of HKD 294 million from the sale of the group's equity in a joint venture in the same period last year, with no related gains recognized during the period; and a reduction in the group's operating expenses during the period, due to cost reductions and short-term rent support