Summary by Moomoo AI
Agile Group (the "Company") issued a profit warning on August 20, 2024, and is expected to record a net loss of approximately RMB 8.5 billion to 9 billion for the six months ended June 30, 2024, compared to a net loss of approximately RMB 3.611 billion in the same period of 2023. Shareholders' share of the loss is expected to be between RMB 9.3 billion and 9.8 billion, up from approximately RMB 4.475 billion in the same period of 2023. The main reasons for the increase in losses include poor real estate sales environment leading to price decline, increased losses from joint ventures, and impairment of assets. The Company emphasizes that these figures have not yet been audited or reviewed by the audit committee and the final interim performance announcement will be made in August 2024. The Company reminds shareholders and potential investors to exercise caution when trading shares.
