信达地产：预计上半年亏损最多达39亿元

Core Viewpoint - Xinda Real Estate (600657.SH) is expected to report a significant net profit loss for the first half of 2025, with estimates ranging from 3.5 billion to 3.9 billion yuan, indicating a substantial decline compared to the same period in 2024 [1] Financial Performance - The company anticipates a net profit loss attributable to shareholders of the parent company between 3.5 billion and 3.9 billion yuan for H1 2025, a notable decrease from the previous year [1] - The expected net profit loss after excluding non-recurring gains and losses is projected to be between 3.42 billion and 3.82 billion yuan [1] Reasons for Loss - The primary reasons for the anticipated loss include a reduction in the delivery scale of real estate development projects, which negatively impacts operating revenue and gross margin year-on-year [1] - There are indications of impairment in certain real estate development projects and financial investments, leading the company to make corresponding impairment provisions [1]