合景悠活(03913)发布截至2025年6月30日止六个月的未经审核中期业绩，收入16.58亿元(人民币，下 同)，同比减少13.79%;股东应占亏损2.68亿元，上年同期股东应占溢利5783.8万元，同比盈转亏;每股基 本亏损13.23分。 ...

Core Viewpoint - The company reported a significant decline in revenue and a shift from profit to loss in its interim results for the six months ending June 30, 2025 [1] Financial Performance - Revenue for the period was 1.658 billion RMB, representing a year-on-year decrease of 13.79% [1] - The company recorded a loss attributable to shareholders of 268 million RMB, compared to a profit of 57.838 million RMB in the same period last year, indicating a shift from profit to loss [1] - Basic loss per share was reported at 13.23 cents [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 KWG Living Group Holdings Limited 合景悠活集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3913） 截至2025年6月30日止六個月的未經審核中期業績公告 中期業績摘要 截至2025年6月30日止六個月的未經審核中期業績 合景悠活集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，本公司及其附 屬公司（統稱「本集團」或「我們」）截至2025年6月30日止六個月之未經審核簡明合併財務 業績連同截至2024年6月30日止六個月之同期比較數字。截至2025年6月30日止六個月之 未經審核簡明合併中期財務資料（「中期財務資料」）已由本公司審核委員會（「審核委員 會」）審閱。 – 1 – • 截至2025年6月30日止六個月收入約人民幣1,658.1百萬元，較2024年同期下降 13.8%。 • 截至2025年6月30日止六個月毛利約人民幣418 ...

Market Overview - The Hong Kong stock market experienced a significant decline, with the Hang Seng Index dropping by 1.27%, closing at 25,201.76, down 323.16 points [1][2] - The Hang Seng Tech Index and the Hang Seng China Enterprises Index also fell by 1.47% and 1.4%, respectively, with the China Enterprises Index barely holding above the 9,000-point mark [1][2] Sector Performance - Major technology stocks saw a downturn, with companies like Kuaishou and Meituan falling over 3%, while JD.com dropped by 2.5% [5][6] - Financial sectors, including banks and insurance stocks, collectively underperformed, contributing to the overall market decline [2][5] - The biopharmaceutical sector faced significant losses, particularly after former President Trump announced plans to impose tariffs on drugs, leading to a broad sell-off in biotech stocks [2][5] Real Estate and Property Management - Property management stocks experienced sharp declines, with companies like Excellence Commercial Services dropping 16% and Country Garden Services falling over 11% [7] - Recent real estate policies in major cities like Beijing and Shanghai are expected to stabilize the market, with analysts optimistic about recovery in core cities [7] Brokerage Firms - Chinese brokerage stocks also fell, with Shenwan Hongyuan down over 6% and other major firms like Dongfang Securities and Huatai Securities declining more than 5% [8] - Despite the downturn, there is optimism regarding the brokerage sector's performance due to increased market activity and potential earnings growth [8] Biopharmaceutical Sector - The biopharmaceutical and innovative drug sectors saw significant declines, with stocks like CanSino Biologics and Innovent Biologics dropping over 7% [9] - Analysts suggest that recent changes in liquidity conditions may support a rebound in the Hong Kong stock market, narrowing the gap with the rapidly rising A-share market [9] Consumer Sector - New consumption concept stocks also faced declines, with companies like Nayuki's Tea and Bubble Mart dropping over 5% [10] - The Chinese Ministry of Commerce plans to introduce policies to boost service consumption, indicating a shift towards a balanced consumption model [10] Apple-Related Stocks - Apple-related stocks performed well, with Lens Technology rising nearly 8% ahead of the upcoming iPhone 17 launch event scheduled for September 9 [3][12] Capital Inflows - Southbound capital saw a net inflow of 15.371 billion HKD, indicating continued interest in Hong Kong stocks from mainland investors [12] Hedge Fund Activity - Recent reports indicate that global hedge funds have increased their bets on Chinese stocks, with significant inflows observed in consumer staples and industrial sectors [14]

Core Viewpoint - On August 18, Kaisa Prosperity (03913.HK) issued a mid-term profit warning, projecting a net loss of no more than 280 million yuan for the first half of the year, compared to a net profit of 69.9 million yuan in the same period last year [1] Summary by Relevant Categories Financial Performance - The company anticipates a net loss of up to 280 million yuan for the first half of the year, a significant decline from the previous year's profit of 69.9 million yuan [1] Reasons for Loss - The company cited three main reasons for the anticipated loss: 1. A provision for impairment of trade receivables of no more than 238 million yuan due to the ongoing downturn in the real estate sector, leading to a slowdown in the recovery of trade receivables [1] 2. A decrease in deferred tax assets resulting in tax expenses of no more than 133 million yuan, primarily due to the continued pressure on the macroeconomic environment [1] 3. An impairment of no more than 114 million yuan related to goodwill and property, plant, and equipment, driven by intense market competition and failure to renew contracts with certain subsidiaries [1]

合景悠活预计截至2025年6月30日的六个月将出现不超过2.80亿元人民币的净亏损，与去年同期6990万 元人民币的净利润形成对比。 市场竞争激烈导致部分收购的附属公司合同未能续签，新客户拓展不及预期，以及服务成本增加，使得 这些附属公司收入和经营利润下降，公司因此计提了不超过1.14亿元人民币的减值。 ...

Core Viewpoint - The company, Hopson Development Holdings Limited (合景悠活), anticipates a net loss of no more than approximately 280 million RMB for the six months ending June 30, 2025, compared to a net profit of about 69.9 million RMB for the same period in 2024 [1] Financial Performance - The expected net loss is primarily attributed to a provision for impairment of trade receivables amounting to no more than 238 million RMB [1] - The company also expects a reduction in deferred tax assets, leading to income tax expenses of no more than 133 million RMB during the period [1] - Additionally, the company plans to recognize an impairment of no more than 114 million RMB related to goodwill and property, plant, and equipment [1]

Group 1 - The company, Kaisa Group Holdings (03913.HK), expects to report a net loss of no more than approximately RMB 280 million for the six-month period ending June 30, 2025, compared to a net profit of approximately RMB 69.9 million for the six-month period ending June 30, 2024 [1]

Core Viewpoint - The company, Hopson Development Holdings (03913.HK), anticipates a net loss of no more than approximately 280 million RMB for the six months ending June 30, 2025, compared to a net profit of about 69.9 million RMB for the same period in 2024 [1] Financial Performance - The expected net loss is primarily attributed to a provision for impairment of trade receivables amounting to no more than 238 million RMB [1] - The company also expects a reduction in deferred tax assets, leading to income tax expenses of no more than 133 million RMB during the period [1] - Additionally, the company plans to recognize an impairment of no more than 114 million RMB related to goodwill and property, plant, and equipment [1]

Core Viewpoint - The company, Kaisa Group Holdings (03913), anticipates a net loss of no more than approximately RMB 280 million for the six months ending June 30, 2025, compared to a net profit of approximately RMB 69.9 million for the same period ending June 30, 2024 [1] Summary by Relevant Categories Financial Performance - The expected net loss is primarily attributed to a provision for impairment of trade receivables amounting to no more than RMB 238 million due to the ongoing downturn in the Chinese real estate sector, leading to a slowdown in the collection of trade receivables [1] - The reduction in deferred tax assets will result in a tax expense of no more than RMB 133 million for the period, driven by the continued pressure on the macroeconomic environment and the increase in trade receivables impairment provisions [1] - An impairment of no more than RMB 114 million has been recognized for goodwill and property, plant, and equipment, mainly due to intense market competition and the failure to renew contracts with certain subsidiaries acquired in previous periods [1] Market Environment - The company faces significant challenges due to a weak demand and downward pressure on housing prices in the Chinese real estate market, impacting the overall business environment [1] - Increased costs associated with improving service quality have contributed to a decline in revenue and operating profit for certain subsidiaries, despite these subsidiaries still achieving positive operating profit during the period [1]