Tianan (00028) issued a profit warning. It is expected that losses due to shareholders in the medium term will not exceed HK$500 million in year-on-year profit and loss

According to the Zhitong Finance App, Tianan (00028) issued an announcement. Compared with the profit attributable to the Company's shareholders of approximately HK$2,345 million for the six months ended June 30, 2025, the Group expects to obtain no more than HK$500 million in losses due to the Company's shareholders for the six months ending June 30, 2026. The main reasons for the significant decline in financial performance were the decline in gross profit and shareholding joint venture performance, a decrease in revenue recognition due to the failure of the Group and the joint venture to deliver major property development projects to customers during the six months ending June 30, 2026, and the decline in property sales of the Group and joint ventures due to the downturn in the mainland real estate market.