Summary by Moomoo AI
According to a profit warning issued by Baolong Property Holdings Limited, the company expects a loss in 2023 of between RMB 24 billion and 26 billion, down significantly from around RMB16.4 billion in 2022. The company's owners are expected to account for a core loss of RMB100 billion to RMB12 billion and a profit of about RMB24.51 billion in 2022. This change is mainly due to a worsening operating environment in the real estate industry, resulting in lower sales income and profits, depreciation of property items, and a decrease in the fair value of invested properties. In addition, currency fluctuations also lead to expected net exchange rate losses. THE COMPANY EMPHASIZES THAT THESE DATA ARE BASED ON PRELIMINARY ASSESSMENTS AND HAVE NOT BEEN AUDITED OR REVIEWED BY AUDITORS OR AUDIT COMMITTEES. The Company will announce audited annual results by the end of March 2024.