KINGDOM HOLDING (00528) expects a net loss attributable to shareholders of approximately 40 to 60 million yuan in 2024.

KINGDOM HOLDING (00528) announced that compared to the net profit of approximately 162.8 million RMB for the year ending December 31, 2023, the company expects to incur a net loss ranging from 38 million to 58 million RMB for the year ending December 31, 2024. Additionally, compared to the attributable net profit of about 163.6 million RMB for the year ending December 31, 2023, the company expects the attributable net loss for shareholders of the parent company to be between 40 million and 60 million RMB for the year ending December 31, 2024. This is mainly due to the high cost of raw materials in 2024 leading to a decrease in gross profit margin, and the expected provision of approximately 200 million RMB for impairment of inventory as previously announced by the end of December 31, 2024.