RICH GOLDMAN (00070) issued a profit warning, expecting the annual loss to increase by not more than 105 million Hong Kong dollars compared to the previous year.

RICH GOLDMAN (00070) announced that the group is expected to incur a loss of no more than 105 million Hong Kong dollars for the fiscal year 2025 (ending on June 30, 2025), compared to a loss of approximately 49 million Hong Kong dollars for the fiscal year 2024 (2024 fiscal year). The loss for the fiscal year 2025 is expected to increase by no more than 56 million Hong Kong dollars compared to the fiscal year 2024. This is mainly due to (i) an increase in impairment losses on properties (classified as properties, plant, and equipment) by approximately 45 million Hong Kong dollars compared to the 2024 fiscal year; (ii) an increase in fair value losses on investment properties by approximately 10 million Hong Kong dollars compared to the 2024 fiscal year; and (iii) an increase in impairment allowances and write-offs on loans and interest receivables by approximately 3 million Hong Kong dollars compared to the 2024 fiscal year, partially offset by a gain of approximately 2 million Hong Kong dollars from the sale of a subsidiary recognized in the fiscal year 2025. The impairment losses, fair value losses, impairment allowances and write-offs, and gains on sale mentioned above are non-cash accounting items in accordance with Hong Kong Financial Reporting Standards, and do not have any impact on the group's operating cash flow.