BEIJING JIAYE (02210) issued a profit warning, expecting a year-on-year decrease of 25% to 30% in the net profit for the year 2024, with a range of 81 million to 86.8 million RMB.

BEIJING JIAYE (02210) announced that the company expects to achieve a group net profit ranging from RMB 81 million to RMB 86.8 million for the year 2024 (ending on December 31, 2024), a decrease of 25% to 30% compared to the same period in 2023. The announcement stated that the decrease in the group's net profit for the year 2024 is mainly due to the following reasons: first, in order to gain market share, the group has increased its investment in the early stage and quality maintenance of property management projects; second, in accordance with the International Financial Reporting Standards and the group's accounting policies, the group has made provisions for impairment of unrecovered accounts receivable.