Qingdao Holdings (00499) issues profit warning, expecting annual loss of approximately 51.2 million yuan.
Qingdao Holdings (00499) announced that as of the end of the fiscal year 2025 on December 31, the group is expected to record an annual loss of approximately RMB 51.20 million, while the annual loss for the fiscal year ended December 31, 2024 was approximately RMB 17.60 million. The loss is mainly due to (i) the decrease in fair value of the group's investment properties due to unfavorable property market conditions; and (ii) an increase in the impairment of financial assets measured at amortized cost.
Qingdao Holdings (00499) announced that for the year ending December 31, 2025, the group expects to record an annual loss of approximately RMB 51.2 million, compared to an annual loss of around RMB 17.6 million for the year ending December 31, 2024. The losses are mainly due to (i) the decrease in fair value of the group's investment properties due to unfavorable property market conditions; and (ii) an increase in impairment losses on financial assets recognized at amortized cost.
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