MOKINGRAN JEWELLERY GROUP CO., LTD. (Stock Code: 2585) has released a profit warning for the year ended December 31, 2025. According to the unaudited management accounts, revenue is expected to range from RMB19.72 billion to RMB22.77 billion, representing a 0% to 16% increase compared to RMB19.71 billion in 2024. Overseas revenue is anticipated to reach between RMB307.00 million and RMB374.00 million, reflecting an increase of 119% to 167% over RMB140.00 million in 2024.

Net profit is projected to be between RMB91.00 million and RMB111.00 million, corresponding to a decline of 45% to 55% from RMB201.00 million in 2024. Profit attributable to owners of the company is expected to drop to a range of RMB77.00 million to RMB94.00 million, down by approximately 50% to 59% compared to RMB189.00 million in 2024.

The company attributes its anticipated revenue growth to the strategic expansion of its overseas footprint and the resulting increase in business scale. However, the overall profit is expected to decrease primarily due to losses from Au(T+D) contracts and gold loans, which are estimated to range from RMB898.00 million to RMB1.10 billion, an increase of 43% to 75% over the RMB627.00 million recorded in 2024. These losses were recognized immediately under “other gains and losses, net,” even as the gains related to rising gold prices are reflected later in product sales.

Despite incurring a loss of RMB64.00 million in the first half of 2025, the shift to selling products at market prices strengthened overall net profit for 2025, which is expected to range from RMB91.00 million to RMB111.00 million.

The figures provided are based on the preliminary assessment of unaudited management accounts. Further details will appear in the 2025 annual results and report. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.