Jianye New Life (09983) announced that it is expected that the company will not be able to meet the requirements of the listing rules on March 31, 2024...
Zhitong Finance App News, Jianye New Life (09983) announced that it is expected that the company will not be able to publish the 2023 annual results on or before March 31, 2024 as required by the listing rules.
According to the announcement, although the operating floor area and gross margin of core property management related businesses continue to increase, it is expected that the Group may obtain an unaudited net consolidated loss of RMB 500 million to RMB 700 million for the year ended December 31, 2023, while the Group's unaudited consolidated net profit for the year ended 31 December 2022 was RMB 570 million.
The anticipated unaudited net loss is mainly due to the following factors: First, the Group adheres to the principle of prudence when performing impairment tests on trade receivables and financial assets. Credit risks associated with trade receivables from real estate developers have risen due to the liquidity crisis caused by the downturn in the real estate industry, so additional impairment provisions are needed. Second, the Group is actively adjusting and reducing the scale of providing value-added services to non-owners' business segments to cope with sluggish sales in the real estate industry. This strategic decision led to a decline in the division's revenue and profitability.