SHUI ON LAND (00272) issues profit warning, expecting a decrease in net profit for the year 2024 to be around 800 million to 825 million.

SHUI ON LAND (00272) announces that the expected total net profit for the year ending December 31, 2024 will be between RMB 800 million and 825 million, compared to the total net profit of RMB 1.397 billion for the same period in 2023. The final confirmation of the total net profit for the year ending December 31, 2024 will depend on the auditors. The main reason for the decrease in net profit is due to a decrease in the residential completion volume of the Group's subsidiary companies and investments in joint ventures during the year ending December 31, 2024.