MINGFA GROUP issues a profit warning, expecting a year-on-year loss of approximately 200 million to 300 million yuan in the first half of the year
MINGFA GROUP expects to incur a loss of approximately RMB 200 million to 300 million in the first half of 2025, compared to a profit of approximately RMB 6.7 million in the same period of 2024. The board of directors pointed out that the loss is mainly due to valuation losses on investment properties and a decrease in income, particularly the overall decline in the market value of commercial properties in China leading to valuation reductions
According to the Zhitong Finance APP, MINGFA GROUP (00846) announced that it expects the group to incur a loss of approximately RMB 200 million to 300 million in the first half of 2025, while achieving a profit of approximately RMB 6.7 million in the first half of 2024.
The board believes that the expected loss during the reporting period is mainly due to valuation losses on investment properties and a decrease in revenue during the reporting period. As of June 30, 2025, the decrease in the valuation of investment properties is primarily attributed to the overall decline in market value of commercial properties in China
