Xingkai Holdings (01166) expects annual profit attributable to shareholders of HK$79 million to HK$86 million to turn a year-on-year loss into profit

According to the Zhitong Finance App, Xingkai Holdings (01166) issued an announcement. It is estimated that the profit attributable to the Company's owners will be between HK$79 million and HK$86 million for the year ended June 30, 2026, while the year ended June 30, 2025 (corresponding period) will record a loss attributable to the Company's owners of approximately HK$142 million.

According to the relevant information currently available to the Company, the Board of Directors believes that despite a decrease in turnover and gross profit during the relevant period, an increase in the amount of confirmed expected credit losses, the recording of deferred tax expenses (and recorded deferred tax credits during the corresponding period), and the recording of one-time income from the sale of subsidiaries during the corresponding period, the performance attributable to the Company's owners is expected to turn a loss into a profit, mainly due to the following factors: (i) the reduction in general and administrative expenses; (ii) the Group's investment properties recorded fair value losses during the relevant period; (iii) recorded fair value losses during the relevant period; (iii) Confirmation Mining rights impairment losses were refunded, and impairment losses were recorded during the corresponding period; and (iv) points were recorded as joint venture profits during the relevant period, while points were recorded as joint venture losses during the corresponding period.