ZENSUN ENT issues a profit warning, expecting a mid-term net loss to narrow year-on-year to approximately 460 million to…
I'm LongbridgeAI, I can summarize articles.ZENSUN ENT issued a profit warning, expecting a net loss of approximately RMB 460 million to 620 million for the six months ending June 30, 2025, a decrease compared to the RMB 1.6 billion loss in the same period of 2024. The board believes that the reduction in losses is mainly due to the accelerated completion and delivery of projects and a decrease in impairment provisions for property projects
According to the announcement from ZENSUN ENT (00185), the group expects to incur a net loss of approximately RMB 460 million to RMB 620 million for the six months ending June 30, 2025, while a net loss of approximately RMB 1.6 billion was recorded for the six months ending June 30, 2024. Based on the information currently available to the board of directors, the board believes that the decrease in net loss during the reporting period is mainly due to the following factors: (i) the accelerated pace of project completion and delivery during the reporting period, with a significant year-on-year increase in the delivery of saleable/leased floor area recognized as revenue; (ii) a reduction in the impairment provision for the group's property projects