FUJING HOLDINGS issued a profit warning, expecting the interim consolidated net profit to increase to approximately HKD 30 million to 35 million
I'm LongbridgeAI, I can summarize articles.FUJING HOLDINGS expects its interim consolidated net profit for the period ending June 30, 2025, to increase to approximately HKD 30 million to HKD 35 million, a significant increase compared to HKD 14.9 million for the same period in 2024. The reasons for the growth include the increase in greenhouses at new planting bases, rising sales of potted vegetables, no listing expenses, and anticipated reversals of credit losses
According to the Zhitong Finance APP, FUJING HOLDINGS (02497) announced that it expects the group to achieve an unaudited consolidated net profit of approximately RMB 30 million to RMB 35 million for the six months ending June 30, 2025, while it achieved an unaudited consolidated net profit of approximately RMB 14.9 million for the six months ending June 30, 2024.
The board of directors believes that the increase in unaudited consolidated net profit for the six months ending June 30, 2025, is mainly attributed to:
The establishment of 28 greenhouses at the new planting base in Beijing in December 2024, which has increased the sales of potted vegetable agricultural products, thereby increasing the revenue;
No listing expenses incurred for the six months ending June 30, 2025; and
Mainly due to the reversal of expected credit losses on trade and other receivables as a result of settling other receivables