KINGWORLD issued a profit warning, expecting a loss attributable to owners of approximately HKD 4.5 million in the first half of the year, a year-on-year turnaround from profit to loss
KINGWORLD expects to incur a loss of approximately 4.5 million yuan in the first half of 2025, turning from profit to loss year-on-year. It is expected that the profit in the first half will decrease by about 70% to 75%, with a profit of 45.6 million yuan in the first half of 2024. The board of directors pointed out that the loss is mainly due to a decrease in gross profit of about 50% to 55% in the Chinese distribution business, due to a slowdown in demand for related products, with some losses offset by an increase in gross profit from Shenzhen Dongdixin Technology Co., Ltd
According to the Zhitong Finance APP, KINGWORLD (01110) announced that it expects a year-on-year decrease of approximately 70% to 75% in profit for the first half of 2025, with a profit of 45.6 million yuan in the first half of 2024. The company expects a loss attributable to owners of approximately 4.5 million yuan, while the profit attributable to owners in the first half of 2024 is expected to be approximately 30.7 million yuan.
The board of directors believes that the decrease in the group's profit is mainly due to a reduction of approximately 50% to 55% in gross profit from the Chinese distribution business engaged in the import of branded pharmaceuticals and health products, primarily due to a slowdown in market demand for related products. This decrease is partially offset by an increase of approximately 10% to 15% in gross profit from Shenzhen Dongdixin Technology Co., Ltd
