Core Viewpoint - The company, Macro Holdings (09930.HK), anticipates a significant decline in revenue and shareholder profit for the first half of 2025 compared to the same period in 2024, with expected revenue dropping by approximately 10% and shareholder profit decreasing by 80%-90% [1][2]. Group 1: Revenue and Profit Forecast - The company expects total revenue for the first half of 2025 to decrease to approximately RMB 4,385,179 thousand from RMB 4,872,421 thousand in the first half of 2024, indicating a decline of about 10% [1]. - Shareholder profit for the first half of 2025 is projected to fall to between RMB 26,823 thousand and RMB 53,646 thousand, down from RMB 268,228 thousand in the first half of 2024, representing a decrease of 80%-90% [1]. Group 2: Reasons for Decline - The decline in revenue and profit is primarily attributed to the adverse market conditions in the equipment rental industry in mainland China, where rental prices have continuously decreased, impacting operational leasing income and gross profit despite stable utilization rates of aerial work platforms [2]. - The company has adopted a proactive contraction strategy for its materials business in mainland China, leading to a reduction in engineering technical service income and a delayed impact on gross profit margins due to the clearance of labor and site costs [2]. - The ongoing decline in steel prices has also contributed to a decrease in trade income and gross profit from the sale of material assets [2]. - Although the overseas business segment has experienced rapid revenue growth and achieved profitability, its smaller scale compared to domestic operations means it cannot fully offset the downturn in the domestic market [2].
宏信建发(09930.HK)预期中期溢利降低80%-90%