CHINA NEWCITY Expects Mid-Year Net Profit of Approximately 92.7 Million RMB, Reversing Prior Year Loss

Stock News08-17 12:21

CHINA NEWCITY (01321) has issued a profit alert, indicating a significant financial turnaround for the first half of the fiscal year. The company's board expects to report a net profit attributable to owners of the parent of approximately 92.7 million RMB for the six months ending June 30, 2026, compared to a net loss of about 35.5 million RMB in the corresponding period of the previous year.

This anticipated shift from loss to profit is primarily driven by a projected fair value gain on the group's investment properties of roughly 264 million RMB for the 2026 period. This marks a stark contrast to the same period in 2025, when the group recorded a fair value loss on its investment properties of approximately 8.6 million RMB.

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