"Profit Warning" WAI KEE HOLD expects a loss of up to 900 million yuan before impairment assessment in the first half of the year

WAI KEE HOLD (00610.HK) issued a profit warning, expecting an unaudited consolidated loss attributable to the company's owners of approximately HKD 800 million to 900 million in the first half of the year, which is an increase compared to a loss of HKD 415 million in the same period last year, excluding the impact of impairment assessment on its associate Road King Infrastructure (01098.HK).

WAI KEE HOLD's unaudited consolidated loss in the first half of the year significantly increased, attributable to the substantial increase in the unaudited consolidated loss attributable to the owners of Road King during the same period. Aside from the impact of Road King's performance, the group expects a slight growth in its performance for the first half of the year, mainly due to an increase in profit contributions from its subsidiary Niche (00240.HK) in the first half; during the period, the group's net profit from the quarry division increased, more than offsetting the decline in net profit from the building materials business.

According to Road King's disclosure, Road King expects an unaudited consolidated net loss of approximately HKD 1.5 billion to 1.7 billion in the first half of the year, and an unaudited consolidated loss attributable to the owners of Road King of approximately HKD 1.9 billion to 2.1 billion, compared to an unaudited consolidated net loss of HKD 394 million and an unaudited consolidated loss attributable to the owners of HKD 1.027 billion in the same period last year