JINKE SERVICES (09666) announces joyful profit forecast, expecting the company's net profit attributable to owners to be approximately 1 billion yuan in the first half of the year, turning losses into gains year-on-year.

JINKE SERVICES (09666) announced that the group is expected to achieve a net profit attributable to owners of the company of approximately RMB 0 million to RMB 1 billion for the six months ended June 30, 2025, compared to a net loss attributable to owners of the company of approximately RMB 194.4 million for the six months ended June 30, 2024. The expected turnaround from a net loss to a net profit is mainly attributed to a significant reduction in impairment provisions for unrecovered amounts due from the related developer, Jinke Real Estate Group Co., Ltd., from approximately RMB 119 million in the same period last year to around RMB 10 million to RMB 30 million in the current period; and after strengthening risk control, the credit impairment of trade receivables and other receivables was reduced from approximately RMB 213 million in the six months ended June 30, 2024 to around RMB 150 million to RMB 170 million.