CIMC Flags Material Profit Impact After Associate's Asset Disposal; Shares Slip 3%

MT Newswires Live
Jan 08

China International Marine Containers (HKG:2039, SHE:000039) warned that a property sale by an associate is expected to have a material adverse impact on its 2025 results, according to a Wednesday Hong Kong bourse filing.

Hong Kong and Shenzhen-listed shares of the company fell more than 3% in Thursday morning trade.

The firm holds a 45.92% stake in Shenzhen CIMC Industry & City Development, which recently disposed of the East Tower project of Qianhai CIMC International Business Center.

Based on a preliminary estimate, the difference between the sale price and the project's book cost is expected to cut net profit attributable to shareholders by about 1.08 billion yuan in 2025, the filing showed.

The transaction had a contract value of about 2.53 billion yuan and was carried out to accelerate cash collection and safeguard liquidity, the company said.

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