Jinke Smart Services Group Co., Ltd. Class H (HK:9666) has released an update.
Jinke Smart Services Group Co., Ltd. has issued a profit warning, expecting to report a net loss of RMB100 million to RMB300 million for the first half of 2024, a stark contrast to the net profit of RMB189.5 million in the same period of 2023. The anticipated loss is attributed to increased provisions for impairment of receivables from Jinke Property and other third-party customers. Despite these losses, the company remains optimistic about its business and the property management industry, with plans to use reserve funds to offset accumulated losses and continue share repurchases and dividend distributions.
For further insights into HK:9666 stock, check out TipRanks’ Stock Analysis page.