POWERLONG Issues Profit Warning, Anticipates 2025 Losses to Widen to Approximately 6.6-7.0 Billion Yuan

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POWERLONG (01238) announced that it expects the group to record a net loss of approximately 6.6 billion to 7.0 billion yuan for the 2025 fiscal year, compared to a loss of about 5.498 billion yuan in 2024. The core loss attributable to owners of the company is projected to be between 3.4 billion and 3.8 billion yuan, versus a core loss of approximately 3.084 billion yuan in the previous year. The increase in losses is primarily attributed to the ongoing challenging operating environment within the real estate sector. This has led to impairment provisions for property projects based on the principle of prudence, a decrease in the fair value of investment properties, and a decline in the share of results from jointly controlled entities and associates.

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