Yibangxing Holdings (00599) issued a profit warning, warning that the annual loss before tax will not exceed HK$13 million

According to the Zhitong Finance App, Yibangxing Holdings (00599) announced that the Group's pre-tax loss for the year ending March 31, 2025 will not exceed HK$13 million, while the previous period of last year ended March 31, 2024 achieved profit before tax of approximately HK$10.9 million, and the Group's revenue this year was similar to that of the previous fiscal year. The expected loss is mainly due to a drop of about HK$19.4 million in the market value of properties held for personal use on March 31, 2025, according to a draft valuation report prepared by independent valuers, which affected the current year's results, and was confirmed in the consolidated comprehensive income statement (while the market value fell by about HK$8.3 million for the year ended March 31, 2024). Furthermore, the Group's gross profit fell by about 11% due to increased market competition and rising inventory costs, which was partially offset by controlling operating expenses.