Palm(SZ:002431) Jing Ji Guan Cha Wang·2026-02-11 10:21Core Viewpoint - The company, Palm Holdings, is facing significant financial challenges, with a projected net loss for 2025 between 1 billion to 1.2 billion yuan, primarily due to increased competition in the construction industry and other operational issues [2] Recent Events - The company announced a substantial expected loss for 2025, with net profit attributable to shareholders projected to be between 1 billion to 1.2 billion yuan, attributed to declining project margins, slowed project progress, extended settlement periods, and high financial costs [2] - The company plans to transfer 80% stakes in two project companies to its controlling shareholder for 258 million yuan to offset equivalent debts, aiming to enhance asset liquidity and reduce financial costs, with an expected after-tax gain of approximately 26.31 million yuan [3] - Palm Holdings' subsidiary won a bid for a high-standard farmland construction project in Shangqiu City, with an estimated contract value of about 228 million yuan, which represents 7.44% of the company's projected revenue for 2024, potentially benefiting future financial performance [4] Company Structure and Governance - The company held a board meeting to review proposals related to providing financial support to project companies, indicating ongoing internal governance dynamics [5] Financial Movements - The company recorded a net financing inflow of 4.7967 million yuan on January 21, 2026, with a financing balance of 191 million yuan, representing 3.72% of its market capitalization, reflecting short-term market funding trends [6] Operational Status - Historical data shows that the company's revenue for 2024 was 3.065 billion yuan, with 1.945 billion yuan in revenue for the first three quarters of 2025, alongside a consistently negative net profit and a high debt-to-asset ratio of 89.87% at the end of 2024 [7]