Wing Lee PPT (00864) issued a profit warning, expecting a net loss of approximately HK$2.66 billion to HK$2.68 billion for the year.

WING LEE PPT (00864) has announced that the group is expected to record a net loss of approximately HK$266 million to HK$268 million for the year ending December 31, 2025, compared to a net loss of approximately HK$234 million in 2024. This is mainly due to (i) a higher decrease in fair value of investment properties for the year ending December 31, 2025 compared to 2024, and (ii) providing more rental concessions to retain tenants, leading to a decrease in rental income from approximately HK$26.8 million in 2024 to approximately HK$21.2 million in 2025. The group also expects to incur other comprehensive expenses of approximately HK$320 million to HK$340 million for the year ending December 31, 2025, compared to approximately HK$401 million in 2024. This is primarily due to a decrease in fair value of the fund and fund properties in 2025. Unrealized valuation changes will not be reclassified to the profit and loss statement, as they are non-cash items and do not impact the group's daily operations and cash flow. The total comprehensive expenses for the year ending December 31, 2025 are expected to be approximately HK$299 million to HK$301 million, compared to approximately HK$274 million in 2024.