Baolong Real Estate (01238) announced that the group is expected to achieve an annual loss of approximately RMB 2.4 billion to 26 billion in 2023...
According to the Zhitong Finance App, Baolong Real Estate (01238) announced that the group is expected to achieve an annual loss of about RMB 2.4 billion to RMB 2.6 billion in 2023 and an annual profit of about RMB 1,614 billion in 2022. The company owner should account for a core loss of about 1 billion yuan to 1.2 billion yuan, and the company owner should account for a core profit of about 2,451 billion yuan in 2022.
According to the announcement, expected performance losses are mainly due to the following: continued impact of the severe business environment in the real estate industry: carry-over volume continued to decline during the year, reducing confirmed revenue and profit from sales properties; depreciation of property projects based on prudential principles; impairment of fair value of investment properties; and expected net exchange losses due to foreign exchange fluctuations.