Jujiang Construction (01459)'s profit warning expects a net loss of about 12 million yuan to 16 million yuan in the medium term, a year-on-year profit to loss

Zhitong Finance App News, Jujiang Construction (01459) announced that it is estimated that for the six months ending June 30, 2026, the Group will record a net loss range of approximately RMB 12 million to RMB 16 million, compared with net profit of about RMB 4.3 million for the same period last year. This shift is mainly due to (i) an increase in impairment losses of financial and contract assets of approximately RMB 28.3 million to RMB 21 million, compared with the same period last year, due to continued weakness in the real estate market and slower than expected repayment of long-term accounts receivable; and (ii) increased income tax expenses. These factors were partly offset by an increase in other revenue and revenue of approximately RMB 19.3 million to RMB 14.2 million. Compared with the same period last year, it was approximately RMB 11.2 million, mainly due to revenue generated from the sale of 80% of the shares in a non-wholly-owned subsidiary of approximately RMB 23.3 million.