Core Viewpoint - Shen Guan Holdings (00829) issued a profit warning, expecting a loss of approximately RMB 35 million to RMB 43 million for the six months ending June 30, 2025, leading to a stock price drop of over 16% [1] Group 1: Financial Performance - The company anticipates a loss attributable to shareholders of approximately RMB 35 million to RMB 43 million for the six months ending June 30, 2025, compared to a profit of approximately RMB 8.2 million for the same period in 2024 [1] - The company recorded an after-tax loss from its daily operations estimated between RMB 17 million to RMB 25 million [1] Group 2: Factors Affecting Performance - The overall business environment remains challenging, resulting in a decline in sales revenue [1] - Inventory write-offs and increased provisions are primarily due to large-scale product trials and equipment upgrades related to new product development, with finished goods inventory still awaiting market absorption [1] - The company recorded an after-tax valuation loss of approximately RMB 3 million on investment properties [2] - Additional after-tax losses are attributed to adjustments in overall financial planning between companies within the group in China and Hong Kong [2]

Core Viewpoint - Rongda Technology (09881.HK) expects a net loss of no more than RMB 7.0 million for the six months ending June 30, 2025, compared to a net profit of approximately RMB 14.4 million for the six months ending June 30, 2024 [1] Financial Performance - The anticipated loss is primarily due to increased general and administrative expenses, including non-recurring listing expenses related to the company's shares being listed on the Hong Kong Stock Exchange in June 2025 [1] - Revenue is expected to decrease due to slower project approval processes from some clients and further product specification improvements requested by clients before delivery [1] - Research and development expenses have also increased, contributing to the expected loss [1] - Excluding the impact of non-recurring listing expenses, the company's net profit for the period is expected to be no less than RMB 9.5 million [1] Future Outlook - The board believes that the company will continue to develop projects with reputable clients and strive to operate the business while securing sales orders for the year ending December 31, 2025 [1]

Core Viewpoint - Nanning Department Store (600712) announced the resignation of its General Manager Qin Chunming and Deputy General Manager Li Lin, stating that their departure will not materially affect the company's operations [1][2]. Group 1: Management Changes - Qin Chunming and Li Lin submitted their resignation letters due to job changes, with their resignations effective immediately upon delivery to the board [1]. - Qin Chunming has been with Nanning Department Store since August 2007, holding various positions before becoming General Manager [1][2]. - Li Lin joined as Deputy General Manager in 2023 and has held several leadership roles in other companies prior to this position [2]. Group 2: Company Performance - Nanning Department Store has experienced a cycle of losses and profits over the past decade, with a reported net loss of 31.63 million yuan in 2024, a decline of 536.17% year-on-year [4]. - The company anticipates a net loss of approximately 13 million yuan for the first half of 2025, with a non-operating loss of about 19.9 million yuan [4]. - The primary reasons for the expected losses include a breach of contract by a tenant, leading to reduced revenue and increased operational costs, as well as ongoing pressure on business operations [4].

Core Viewpoint - Dalian Shengya Tourism Holdings Co., Ltd. is planning to issue shares to specific investors, which may lead to a change in control of the company [1] Financial Performance - Dalian Shengya's revenue for 2021, 2022, and 2023 was 205 million, 157 million, and 468 million respectively, with net profits of -198 million, -77.64 million, and 34.38 million [3] - In 2024, the company reported total revenue of 505 million, a year-on-year increase of 7.93%, but net profit was a loss of 70.18 million, compared to a profit of 34.38 million in the previous year [3] - For the first half of 2025, the company expects a net profit loss between 12.72 million and 19.08 million, down from a profit of 12.28 million in the same period last year [3] Control Issues - Since 2017, Dalian Shengya has faced control disputes involving its major shareholder, Pankin Fund, and other stakeholders, leading to internal conflicts [4] - The largest shareholder, Dalian Xinghaiwan Financial Business District Investment Management Co., Ltd., holds 24.03% of shares but claims it does not have control over the company [5] - The governance issues and performance problems remain unresolved, raising questions about the potential impact of the proposed change in control [5]

Core Viewpoint - Dalian Shengya Tourism Holdings Co., Ltd. is planning to issue shares to specific investors, which may lead to a change in control of the company [1][11]. Group 1: Stock Performance - As of July 21, the stock price of Dalian Shengya was 34.3 yuan, up 5.05% on that day, with a total market capitalization of 4.418 billion yuan [2]. - The company's stock price has risen nearly 20% over the past month [3]. Group 2: Financial Performance - Dalian Shengya has reported continuous losses in recent years, with revenues of 205 million yuan, 157 million yuan, and 468 million yuan from 2021 to 2023, and net profits of -198 million yuan, -77.64 million yuan, and 34.38 million yuan respectively [6]. - In 2024, the company achieved total revenue of 505 million yuan, a year-on-year increase of 7.93%, but reported a net loss of 70.18 million yuan, compared to a profit of 34.38 million yuan in the same period last year [6]. - For the first half of 2025, the company expects a net loss of between 12.72 million yuan and 19.08 million yuan, down from a profit of 12.28 million yuan in the same period last year [6]. Group 3: Control Issues - Since 2017, Dalian Shengya has faced control issues, with the actual controller being Mao Wei of Pankin Equity Investment Fund Management (Shanghai) Co., Ltd. [8]. - In 2019, shareholder Yang Ziping became a board member and led the removal of the chairman and vice-chairman, indicating internal conflicts [8]. - The largest shareholder, Dalian Xinghaiwan Financial Business District Investment Management Co., Ltd., has claimed to be the controlling shareholder, but has also stated it does not have control over the company [9][10].

金隅集团（601992）公告，预计2025年上半年净利润为-13亿元到-16亿元。归属于上市公司股东的扣除 非经常性损益的净利润预计为-21亿元到-24亿元。上年同期归属于上市公司股东的净利润为-8.07亿元， 扣除非经常性损益的净利润为-20.56亿元。报告期内，公司水泥业务成本同比下降，售价提升，亏损额 大幅收窄。房地产业务销售价格承压，影响经营利润同比减少。 ...

*ST海华（600243）公告，预计2025年半年度归属于上市公司股东的净利润为-210万元左右，较上年同 期减亏1173.53万元左右。预计2025年半年度归属于上市公司股东扣除非经常性损益后的净利润为-500 万元左右，较上年同期减亏989.1万元左右。公司2025年半年度经营业绩出现亏损的主要原因为受市场 竞争的影响，公司所属天然气业务毛利率降低，齿轮业务因新产品试制导致成本过高，固定资产折旧的 影响。 ...

山西焦化（600740）公告，预计2025年半年度实现归属于母公司所有者的净利润为-8726.92万元 到-7276.92万元，与上年同期1.84亿元相比，将出现亏损。预计2025年半年度实现归属于母公司所有者 的扣除非经常性损益的净利润为-9782.24万元到-8332.24万元。 ...

Core Viewpoint - The company expects a significant net loss for the first half of 2025, primarily due to lower construction volume and slow revenue collection [1] Financial Performance - The projected net profit attributable to the parent company is estimated to be between -92 million and -68 million [1] - The net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be between -95 million and -70 million [1] Operational Challenges - The main reasons for the anticipated losses include insufficient engineering construction volume, unmet revenue targets, and slow progress in project payments [1]

Group 1 - The company reported a revenue of 821 million yuan for 2024, representing a year-on-year growth of 1.12% [1] - The net loss attributable to shareholders for 2024 was 96.41 million yuan, compared to a net loss of 5.33 million yuan in the same period last year [1] - The company plans not to distribute cash dividends for the 2024 fiscal year, nor will it conduct capital reserve transfers to increase share capital or any other forms of distribution [1]