Jinke Property Group (000656.SZ) announced a forecasted pre-tax loss, with an estimated net loss of 20.5 billion to 28.5 billion yuan for the fiscal year 2024.

Jinke Property Group (000656.SZ) disclosed its 2024 performance forecast, with the company expecting a net loss attributable to shareholders of the listed company of 20.5 billion to 28.5 billion yuan; a net loss of 18 billion to 26 billion yuan after deducting non-recurring gains and losses. During the reporting period, the company's overall project sales declined due to various factors, resulting in a significant decrease in projects meeting delivery conditions compared to the same period last year, leading to a decrease in profit for the year; as the company's existing real estate development projects were completed, some projects were not repaid due to overdue financing, resulting in a reduction in the corresponding capitalized interest projects and their amounts, leading to an increase in interest expenses on interest-bearing liabilities; during the reporting period, the company's assets showed signs of impairment for some real estate projects, and the company conducted a preliminary impairment test on inventory impairment in accordance with enterprise accounting standards, and provisioned for asset impairment losses. Due to the continued impact of the company's liquidity risk, the company continued to recognize corresponding losses such as penalties for default.