Jianye New Life (09983) Fa Yingxi expects annual net profit of about 215 million yuan to 255 million yuan, turning a year-on-year loss into a profit

According to the Zhitong Finance App, Jianye New Life (09983) announced that the company expects to obtain a net profit of about RMB 215 million to RMB 255 million for the year ended December 31, 2024, and a net loss of approximately RMB 578 million for the year ended December 31, 2023.

The Group expects to reverse from net loss to net profit, mainly due to a sharp reduction in impairment losses on financial and contract assets. During the year, impairment losses on financial and contract assets were approximately RMB 50 million to RMB 100 million, while impairment losses on financial and contract assets for the year ended 31 December 2023 were approximately RMB 1,222 million.

Despite this, excluding impairment losses on financial and contract assets, fair value gains and losses on financial assets measured at fair value, share-based payments, and related tax impacts, the expected core net profit attributable to shareholders during the year was approximately RMB 275 million to RMB 305 million, compared to approximately RMB 403 million for the year ended 31 December 2023. The decrease was mainly due to a decline in the scale of value-added service business for non-owners.