Black Peony (600510.SH) issued a profit warning, with an estimated net profit of 112 million to 134 million yuan in 2024, a year-on-year decrease of 63.22% to 69.26%.

Black Peony (600510.SH) announced that, according to the preliminary calculations by the finance department, the company is expected to achieve a net profit attributable to the owners of the parent company of 112-134 million yuan in 2024, a decrease of 230.33-252.33 million yuan compared to the same period last year, representing a year-on-year decrease of 63.22% to 69.26%. It is expected that the net profit attributable to the owners of the parent company, excluding non-recurring gains and losses, will be 114-136 million yuan in 2024, a decrease of 189.47-211.47 million yuan compared to the same period last year, representing a year-on-year decrease of 58.21% to 64.97%. Due to the delivery cycle of real estate projects and the impact of the real estate market, the income from real estate business in this period has decreased compared to the same period last year; at the end of the reporting period, the company conducted an impairment test based on the "Enterprise Accounting Standards," mainly due to indications of impairment in some real estate projects. Based on the principle of prudence, the company made provisions for inventory depreciation and bad debt provisions for assets that may incur impairment losses.