MIDEA REAL EST (03990) opened nearly 15% higher following a profit alert. As of press time, the stock rose 14.83% to HK$5.42 with a turnover of HK$3.8384 million.

On the news front, MIDEA REAL EST announced on August 18 that compared to the profit from continuing operations attributable to company owners of approximately RMB 141 million and core net profit attributable to company owners of approximately RMB 142 million for the six months ended June 30, 2024, the company expects profit from continuing operations attributable to company owners for the first half of 2025 to be between RMB 250 million and RMB 350 million, with core net profit attributable to company owners also expected to be between RMB 250 million and RMB 350 million.

The increase is primarily attributed to the completion of distribution in kind and disposal on October 22, 2024, which resulted in development services becoming a new business segment of the group.