C SUCCESS FIN (03623) issues profit warning, expecting a decrease of approximately 34% to 44% in the loss amount in 2025 compared to the previous year.

China Finance Development (03623) announced that the group expects a decrease in net profit of about 30% to 40% in 2025 compared to the previous year, with a decrease in losses of about 34% to 44% compared to the same period last year. The decrease in net profit is mainly attributed to a decrease in revenue from energy storage system sales of about 43% to 48% compared to the same period last year, mainly due to intense competition in the South African market. The decrease in losses is mainly due to (i) a significant decrease of about 92% to 97% in impairment losses on property, factory, and equipment compared to the same period last year; and (ii) a significant decrease of about 92% to 97% in fair value losses on financial assets measured at fair value and for which changes in fair value are recorded in the current period profit and loss compared to the same period last year.