QM HOME(603818)2024-07-09 10:37Financial Performance - The company expects a net profit attributable to shareholders for the first half of 2024 to be between -150 million and -110 million RMB[12]. - The estimated net profit attributable to the parent company, excluding non-recurring gains and losses, is projected to be between -130 million and -90 million RMB, which represents a year-over-year change of -3.26% to +28.51% compared to -125.89 million RMB in the same period last year[13]. - The company reported a net profit of -156.53 million RMB for the same period last year, with a net profit excluding non-recurring gains and losses of -125.89 million RMB[14]. Revenue and Demand - The company faced a decline in domestic demand for furniture, leading to a decrease in revenue for the Qu Mei brand, which negatively impacted net profit[15]. - The overseas subsidiary Ekornes AS experienced a revenue recovery in the second quarter, but the overall revenue for the first half of the year declined, negatively impacting net profit[15]. Cost and Expenses - The overall gross margin of the company has improved, partially offsetting the negative impact of revenue decline on net profit[15]. - The company’s financial expenses increased due to rising interest rates on overseas debt, affecting the second quarter results compared to the same period last year[15]. - The company’s total interest-bearing debt decreased compared to the same period last year, which partially mitigated the impact of rising overseas interest rates[8]. Tax and Forecasting - The company is currently unable to determine the specific amount of income tax for its overseas subsidiaries, which may affect the accuracy of this earnings forecast[8]. - The performance forecast is based on preliminary calculations and has not been audited by registered accountants, with final figures to be disclosed in the 2024 semi-annual report[15].