Joint Group (00373) announced favorable earnings, expecting a net profit of approximately 1.6 billion to 1.8 billion Hong Kong dollars in the first half of the year, turning from a loss to a profit year-on-year.

Zhixin Finance APP News, Joint Group (00373) announced that the company is expected to have a comprehensive profit attributable to shareholders of approximately HK$1.6 billion to HK$1.8 billion in the first half of 2025, while in the same period in 2024, the company's comprehensive loss attributable to shareholders was approximately HK$200 million. The significant improvement in financial performance is mainly due to (i) the increase in profits confirmed after the delivery of the units of Tian'an Phase 1 (Zone C) residential project in Shanghai, China to its customers in early 2025; and (ii) New World primarily due to an increase in investment income from investment management business leading to an increase in its attributable profits, with part of it being offset by a decrease in profits from its credit business.