Core Viewpoint - The company, Kwan Yick International (01683), anticipates a significant decline in net profit for the six months ending June 30, 2025, projecting a loss of no less than HKD 500,000 compared to a net profit of HKD 5.7 million for the same period ending June 30, 2024 [1] Financial Performance - For the six months ending June 30, 2024, the company reported a net profit of HKD 5.7 million [1] - The expected net loss for the six months ending June 30, 2025, is projected to be at least HKD 500,000 [1] Reasons for Change - The board attributes the anticipated decrease in net profit primarily to increased financing costs related to other borrowings and rising administrative expenses in the consumer products business [1]

Core Viewpoint - The company, Gaoke Bridge (09963), anticipates a consolidated net loss ranging from approximately HKD 12 million to HKD 13 million for the six-month period ending June 30, 2025, compared to a consolidated net loss of about HKD 13.7 million for the six-month period ending June 30, 2024 [1] Group 1 - The expected consolidated net loss is primarily attributed to a decrease in sales revenue [1] - The company also notes an increase in exchange gains due to fluctuations in the exchange rates of the Renminbi, Thai Baht, US Dollar, and Hong Kong Dollar [1]

Core Viewpoint - The company expects a net loss of HKD 290 million to HKD 310 million for the six months ending June 30, 2025, compared to a net profit of approximately HKD 143 million for the six months ending June 30, 2024 [1] Financial Performance - The anticipated net loss is primarily due to significant impairment losses recognized during the period, mainly attributed to a substantial decrease in the expected recoverable amount of a loan [1] - The company also reported a net loss from financial assets measured at fair value through profit or loss during the current period [1] - In the previous period, the net profit was largely due to a significant reversal of impairment provisions on the aforementioned loan, driven by an increase in the fair value of collateral [1]

Core Viewpoint - China Tian Gong Holdings (00428) expects to report a profit of approximately HKD 2.5 million to HKD 3.5 million for the six months ending June 30, 2025, a significant turnaround from a net loss of approximately HKD 19 million in the same period of 2024 [1] Summary by Relevant Categories - **Financial Performance** - The company anticipates a profit range of about HKD 2.5 million to HKD 3.5 million for the upcoming reporting period [1] - This marks a recovery from a net loss of approximately HKD 19 million in the previous year [1] - **Factors Contributing to Profitability** - The turnaround from loss to profit is primarily attributed to a reduction in unrealized losses on listed securities [1] - Additionally, the performance of several publicly traded securities held by the group during the reporting period has been favorable, leading to increased realized gains from the sale of listed securities [1]

Core Viewpoint - Datong Group (00544) anticipates a net loss attributable to equity holders of approximately HKD 36.8 million for the six months ending June 30, 2025, compared to a net loss of approximately HKD 19.76 million for the same period ending June 30, 2024 [1] Group Performance - The expected loss is primarily attributed to a revenue decrease of approximately 33% in the frozen warehouse and related services business [1] - Revenue from the food and beverage trading and sales business in mainland China is expected to decrease by approximately 62% [1] - The revenue declines in both segments are mainly due to a challenging macroeconomic environment that has weakened demand for the group's products and services [1] Accounting Impact - The cumulative impact of accounting treatment related to the extension of the frozen warehouse lease agreement at the end of 2024 is also a contributing factor to the anticipated loss [1]

Group 1 - The company expects to achieve revenue of approximately HKD 250-260 million in the first half of 2025, representing a year-on-year increase of about 10% to 14% [1] - The company anticipates a pre-tax loss of approximately HKD 8-10 million, which is a year-on-year decrease of about 25% to 6% [1] - The company projects a net loss of approximately HKD 10-15 million, indicating a year-on-year increase of about 27% to 90% [1] Group 2 - The board believes that the expected increase in net loss is primarily due to an increase in tax expenses [1] - The increase in tax expenses is attributed to the tax liabilities incurred for the six months ending June 30, 2025, compared to a tax credit received for the six months ending June 30, 2024 [1]

Group 1 - The company expects to record revenue between 250 million HKD and 260 million HKD for the six months ending June 30, 2025, representing a year-on-year increase of approximately 10% to 14% [1] - The company anticipates a pre-tax loss between 8 million HKD and 10 million HKD, a reduction of about 25% to 6% compared to the pre-tax loss of 10.6 million HKD in the same period last year [1] - The company projects a net loss between 10 million HKD and 15 million HKD, an increase of approximately 27% to 90% compared to the net loss of 7.9 million HKD in the previous year [1] Group 2 - The board attributes the expected increase in net loss primarily to higher tax expenses, which arise from tax liabilities incurred during the six months ending June 30, 2025, as opposed to tax credits recorded in the same period last year [1] - The board believes that the company's credit risk, liquidity risk, and financial stability will not experience any significant changes for the remainder of the fiscal year [1] - The board will continue to closely monitor market conditions and will adjust the company's strategic direction as necessary [1]

Core Insights - Xiaopeng Motors reported first-quarter revenue of 15.81 billion RMB, exceeding market expectations of 15.63 billion RMB [1] - The company experienced a net loss of 660 million RMB in the first quarter [2] - Total vehicle deliveries reached 94,008 units, surpassing market estimates of 90,592 units [3] - For the second quarter, revenue is projected to be between 17.5 billion and 18.7 billion RMB [4] - Expected vehicle deliveries for the second quarter are between 102,000 and 108,000 units [5] - Xiaopeng Motors' U.S. stock rose nearly 5% in pre-market trading [6] Financial Performance - Automotive sales revenue for the first quarter was 14.37 billion RMB, showing a year-on-year increase of 159.2% but a quarter-on-quarter decrease of 2.1% [7] - The automotive gross margin improved to 10.5%, up 5 percentage points year-on-year and 0.5 percentage points quarter-on-quarter [7] - Total revenue for the quarter was 15.81 billion RMB, reflecting a year-on-year increase of 141.5% but a quarter-on-quarter decrease of 1.8% [7] - Gross profit reached 2.46 billion RMB, marking a year-on-year increase of 191.5% and a quarter-on-quarter increase of 5.8% [7] - The gross margin for the quarter was 15.6%, up 2.7 percentage points year-on-year and 1.2 percentage points quarter-on-quarter [7] - The net loss of 660 million RMB represented a 51.5% improvement year-on-year and a 50.1% improvement quarter-on-quarter [7] - Non-GAAP net loss was 430 million RMB, a reduction of 69.8% year-on-year and 69.4% quarter-on-quarter [7] - Comprehensive loss was 690 million RMB, down 48.6% year-on-year and 23.0% quarter-on-quarter [7]