Jinwu Financial News | Jinke Services (09666) issued a profit warning. It is expected that the Group will record a net loss attributable to company owners of about RMB 800 million to RMB 1.1 billion for the year ended December 31, 2023, while net loss attributable to company owners for the year ended December 31, 2022 is approximately RMB 1,819 billion. The net loss attributable to the owners of related companies in the current period was mainly due to the Group once again accruing impairment provisions for outstanding accounts receivable owed by the Group to Jinke Real Estate Group Co., Ltd. in the current period, but the amount of the impairment provision was reduced compared to the same period in 2022. After accounting for this provision, the Group's receivables will mainly consist of property fees receivable from third party owners related to the Group's main business.
Although the impairment provision calculated in the current period mentioned above will cause the Group to incur large accounting losses, the Group still achieved steady operating results in the current period, with a net operating cash flow inflow of approximately RMB 450 million. The company also used approximately HK$300 million to repurchase 28,826,200 H shares of the company on the open market.