CHINA CBS INTL (00989) Issues Profit Warning, Expects Interim Net Loss Attributable to Shareholders of RMB 30-36 Million, Down Over 90% YoY
Stock News
Nov 21
CHINA CBS INTL (00989) announced that the group expects its net loss attributable to parent company owners for the six months ending September 30, 2025, to decrease significantly by no less than 90% compared to the net loss of approximately RMB 601 million for the same period in 2024 (estimated range: RMB 30-36 million).
The substantial reduction in net loss during this interim period is primarily due to: (i) the absence of additional impairment provisions (net of deferred tax) of approximately RMB 565 million related to a property project in Fusong County during the corresponding period last year, as the project has now been sold; and (ii) the group's continued cost-saving measures implemented during this interim period.
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