Japan Kyosei Group Reports Significant Increase in Net Loss to RMB1,035-1,045 Million for 2024
Japan Kyosei Group Co. Ltd. has issued a profit warning, indicating that the company expects to record a net loss for the year ending December 31, 2024, ranging from approximately RMB1,035 million to RMB1,045 million. This is a significant increase compared to the net loss of approximately RMB686.7 million recorded for the previous year ending December 31, 2023. The company attributes this forecasted increase in net loss to several factors, including an anticipated increase in credit loss allowances to approximately RMB1,192.8 million from RMB608.0 million in the previous year, and a loss on deemed disposal of a subsidiary amounting to approximately RMB39.5 million, compared to nil in the previous year. Additionally, finance costs for the current reporting year are expected to rise to approximately RMB546.8 million, up from RMB492.1 million in the previous year. Shareholders and potential investors are advised to exercise caution when dealing with the company's shares.
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