POWERLONG (01238) issues profit warning, expecting losses to increase to approximately 6.6 to 7 billion yuan by 2025.
Treasure Land Real Estate (01238) announces that it is expected to incur a loss of approximately 6.6 billion to 7 billion yuan in the financial year 2025 (loss in 2024: approximately 5.498 billion yuan). The core loss attributable to owners of the company is expected to be around 3.4 billion to 3.8 billion yuan in 2025 (core loss attributable to owners in 2024: approximately 3.084 billion yuan). The increase in loss is mainly attributed to (1) the continued severe impact of the operating environment in the real estate industry, leading to (i) impairment of property projects based on prudence principles; (ii) impairment of fair value of investment properties; and (2) decline in performance of entities under joint control and joint ventures.
POWERLONG (01238) announced that it is expected to incur a loss of approximately 6.6 billion to 7 billion yuan in the fiscal year 2025 (loss in 2024: approximately 5.498 billion yuan), with the core loss attributable to owners of the company expected to be around 3.4 billion to 3.8 billion yuan (core loss attributable to owners in 2024: around 3.084 billion yuan). The increase in loss is mainly attributable to (1) the continued impact of the challenging operating environment in the real estate industry, leading to (i) impairment provisions for property projects based on prudence principle; (ii) impairment of fair value of investment properties; and (2) decline in performance of entities controlled jointly or through significant influence.
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