FIRST SERVICE issues a profit warning, expecting the net loss for the fiscal year 2025 to expand year-on-year to no more…
I'm LongbridgeAI, I can summarize articles.FIRST SERVICE issued a profit warning, expecting a net loss of no more than 40 million yuan for the fiscal year 2025, a significant increase from the 6.3 million yuan loss in 2024. The increase in losses is mainly due to the underperformance of Qingdao Luohang Enterprise Management Co., Ltd., which was acquired, and future business expansion and profit recovery face challenges, confirming goodwill impairment loss provisions
According to the Zhitong Finance APP, FIRST SERVICE (02107) announced that the expected net loss for the group for the year ending December 31, 2025, will not exceed RMB 40 million, while the net loss for the group for the year ending December 31, 2024, is approximately RMB 6.3 million. The increase in expected losses is mainly attributed to the underperformance of the subsidiary Qingdao Luohang Enterprise Management Co., Ltd., which the group has acquired, in 2025, and the anticipated challenges in its future business expansion and profit recovery, leading to the recognition of goodwill impairment loss provisions