Core Viewpoint - The company, Lianyi Rong Technology-W (09959), has issued a profit warning for the first half of 2025, projecting a net loss attributable to equity shareholders of approximately RMB 370 million to RMB 390 million, despite an increase in cash reserves to about RMB 5.4 billion [1][2]. Group 1 - The projected loss is primarily due to impairment losses recognized on historical bridge supply chain assets based on expected credit loss models [1]. - The company’s cash reserves increased by RMB 300 million compared to the end of 2024, indicating a stable liquidity position [1]. - The historical bridge assets, which are short-term receivables held until sold to final funding parties, have been affected by the debt crises of major real estate clients, leading to longer retention periods on the balance sheet [1]. Group 2 - The company has made significant progress in addressing historical issues through enhanced credit risk management, targeted recovery of legacy assets, and prudent impairment provisioning [2]. - These measures have effectively reduced the ongoing impact of historical factors on the current and future financial status of the company [2].
联易融科技-W(09959)发布盈警，预期中期股东应占综合亏损净额约3.7亿元至3.9亿元