Yuanheng Gas (00332) issues profit warning, expecting a comprehensive loss of approximately 117 million yuan in the mid-term.

YUANHENG GAS (00332) announces that the group is expected to incur an unaudited comprehensive loss of approximately RMB 117 million for the 6 months ending on September 30, 2024 ("the current period"), compared to an unaudited comprehensive profit of approximately RMB 26 million for the 6 months ending on September 30, 2023 ("the previous period"). Based on current information, the unfavorable performance in the current period compared to the previous period is mainly due to (1) a loss of approximately RMB 47 million from terminating operating activities of a subsidiary company due to loss of control; (2) a net exchange loss of approximately RMB 17 million in the current period, while a net exchange gain of RMB 35 million was recorded in the previous period; and (3) a decrease in gross profit from approximately RMB 46 million in the previous period to approximately RMB 30 million in the current period, a decrease of approximately 34%.