R&F PROPERTIES (02777) issues profit warning, expecting a net loss of approximately 4.08 billion yuan in the mid-term.

R&F PROPERTIES (02777) issued a notice stating that the group is expected to record a net loss of approximately RMB 4.08 billion for the six months ending June 30, 2025, compared to a net loss of RMB 2.33 billion for the period ending June 30, 2024. The net loss for the period is mainly due to the continued downturn in the Chinese real estate industry, leading to a decrease in revenue and gross profit from property development.