Peking University Resources (00618) Fa Ying Guang expects a medium-term loss of about 1.2 billion to 1.5 billion yuan

According to the Zhitong Finance App, Peking University Resources (00618) announced that it is expected that the Group will lose between RMB 1.2 billion and RMB 1.5 billion for the six months ending September 30, 2024, and profit of about RMB 166 million for the six months ending September 30, 2023.

The Group's anticipated losses during the period were mainly due to the following reasons: a reduction in the delivered area of property development projects, leading to a reduction in gross profit in the property development business; due to the continued downturn in the real estate market, large inventory impairment provisions were required during the period; and the Group provided guarantees to the subsidiary of Hong Kong Amber Advisory Limited, which it sold on March 25, 2022 (and such guarantees remain in effect) and anticipated guarantee liabilities and litigation provisions arising from related lawsuits.