WPG(SH:603956)2025-01-24 08:50Financial Performance - The company expects a net profit attributable to shareholders of approximately -220 million yuan for 2024, compared to a profit of 23.34 million yuan in the same period last year [2]. - The net profit after deducting non-recurring gains and losses is projected to be around -223.9 million yuan, compared to -10.99 million yuan in the previous year [2]. - The main reasons for the expected loss include longer conversion cycles for new businesses and investment losses from optimizing non-core business layouts [2]. - The overall financial condition is assessed with a preliminary financial status score of 5/9, indicating weaknesses in profitability [7]. Cash Flow and Liquidity - As of September 2024, the company's cash and cash equivalents totaled 585 million yuan, with a cash-to-short-term debt ratio of 0.96 [3]. - The company experienced a net cash outflow of 379 million yuan from operating activities in the first three quarters of 2024, indicating increased liquidity pressure [3]. Debt and Credit - The balance of the "Weipai Convertible Bond" as of January 22, 2025, is 419.95 million yuan, maturing in November 2026 [3]. - The company maintains a credit rating of A+ with a stable outlook, reflecting ongoing financial performance monitoring [3]. Market and Operational Challenges - The company’s reliance on sales channels and industry environment has negatively impacted performance from 2022 to 2024 [3]. - The company has made full provisions for bad debts related to high-risk real estate clients, increasing credit impairment losses [3].