CLIFFORDML (03686) issued a profit warning, expecting a mid-term loss attributable to shareholders and a total comprehensive loss of approximately 2.4 million to 4.4 million yuan.

CLIFFORDML (03686) announced that the Group expects to record a loss attributable to the owners of the Company and a total comprehensive loss ranging from approximately RMB 2.4 million to RMB 4.4 million in the first half of 2026, significantly changing from the profit attributable to the owners of the Company and total comprehensive income of approximately RMB 75.1 million recorded in the first half of 2025. This is mainly due to the recognition of a fair value loss from investments in precious metals totaling approximately RMB 83.4 million in the first half of 2026, including: a fair value loss of RMB 10.6 million on investment in unallocated gold bars (no such loss in the first half of 2025); a fair value loss of RMB 12.9 million on investment in allocated gold bars (no such loss in the first half of 2025); and a fair value loss of RMB 59.9 million on investment in allocated silver bars (in the first half of 2025, there were no allocated silver bars, and investment in unallocated silver bars had a fair value gain of RMB 33.8 million). This is primarily due to the price decline of the relevant precious metals from their respective initial purchase dates to June 30, 2026. The expected fair value loss is of an unrealized nature, as the relevant precious metals have not been sold as of June 30, 2026, or the date of this announcement.