美凯龙(601828) - 2025 Q2 - 季度业绩预告

Red Star Macalline 2025 Semi-Annual Performance Forecast Current Period Performance Forecast The company projects a significant net loss for H1 2025, with attributable net profit between -1.92 billion and -1.59 billion yuan, and non-recurring adjusted net profit between -620 million and -510 million yuan 2025 Semi-Annual Performance Forecast (January 1 - June 30, 2025) | Indicator | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Owners | -1.92 billion to -1.59 billion Yuan | | Net Profit Attributable to Parent Company Owners After Deducting Non-Recurring Gains and Losses | -620 million to -510 million Yuan | - This performance forecast is a preliminary estimate based on the company's operating conditions and has not yet been audited by a certified public accountant[5] Prior Period Performance Review Losses expanded compared to the prior year, with H1 2024 net profit attributable to parent company owners at -1.253 billion yuan and non-recurring adjusted net profit at -585 million yuan 2024 Semi-Annual Performance Data | Indicator | Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Owners | -1.253 billion Yuan | | Net Profit Attributable to Parent Company Owners After Deducting Non-Recurring Gains and Losses | -584.57 million Yuan | | Earnings Per Share | -0.29 Yuan | Analysis of Primary Reasons for Projected Loss The projected loss is primarily due to weak home furnishing demand, rent reductions for merchants, and significant investment property valuation adjustments, with management anticipating national stimulus policies to support a market rebound - The core reason is the home furnishing and building materials industry facing a dual impact of supply fluctuations and demand decline, leading to weakened retail market demand[9] - To support merchants, the company reduced some rents and management fees, and introduced new business formats like designers, home decoration companies, and new energy vehicles under favorable terms, leading to a current decrease in occupancy rates and rental levels[9] - Affected by the aforementioned operating conditions, the value of the company's investment properties was correspondingly adjusted downward, with the semi-annual valuation reduction exceeding 1.8 billion Yuan, a significant factor contributing to the loss[9] - Looking ahead, the company believes national stimulus policies, such as reduced mortgage rates and consumer product trade-ins, will provide a new round of support for the industry, with consumer demand expected to bottom out and rebound[9] Risk Warning and Other Explanations The company confirms no major uncertainties affect the accuracy of this preliminary, unaudited performance forecast, with final figures subject to the official semi-annual report - The company states that as of the announcement date, there are no significant uncertainties affecting the accuracy of this performance forecast[10] - The company reminds investors that the forecast data are preliminary, and the specific accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report; investors should be aware of investment risks[11][6]