Core Viewpoint - China Wantongyuan (06966) anticipates a significant shift from a profit of approximately RMB 7.28 million for the six months ending June 30, 2024, to a projected loss of between RMB 9 million and RMB 10 million for the six months ending June 30, 2025, primarily due to macroeconomic factors and cautious consumer spending [2] Financial Performance - The expected loss is attributed to a decline in cemetery sales prices and a decrease in demand for funeral services, leading to reduced sales revenue [2] - The company faces increased tax costs due to tax authority notifications regarding additional VAT and surcharges for prior periods [2] - There is a decline in the fair value of financial assets measured at fair value through profit or loss, contributing to the anticipated losses [2] Business Strategy - The losses are primarily due to one-time events related to increased tax costs and impairment of financial assets, which do not affect the core operations of the company [2] - The company plans to continue its three-dimensional strategy of "geographical deepening, cost efficiency, and ecological construction" to address challenges posed by the macroeconomic environment [2] - The company aims to optimize operational management while maintaining robust cash flow and financial structure to build a resilient, coordinated, and sustainable business [2]

Core Viewpoint - China Wantongyuan (06966) anticipates a significant shift from a profit of approximately RMB 7.28 million for the six months ending June 30, 2024, to a projected loss of between RMB 9 million and RMB 10 million for the six months ending June 30, 2025, primarily due to macroeconomic factors and cautious consumer spending [1] Financial Performance - The expected loss is attributed to a decline in cemetery sales prices and a decrease in demand for funeral services, leading to reduced sales revenue [1] - The company faces increased tax costs due to tax authority notifications regarding additional reassessed value-added tax and surcharges for prior periods [1] - The fair value of financial assets held by the company has also decreased, contributing to the projected losses [1] Business Strategy - The losses are mainly due to one-time events related to increased tax costs and fair value impairment of financial assets, which do not affect the core operations of the company [1] - The company plans to continue its development along the entire funeral industry chain through a strategy focused on "geographical deepening, cost efficiency, and ecological construction" to address macroeconomic challenges [1] - The company aims to optimize operational management while maintaining robust cash flow and financial structure to ensure stable, coordinated, and sustainable development [1]

Core Viewpoint - China Wantongyuan (06966) anticipates a significant shift from a profit of approximately RMB 7.28 million for the six months ending June 30, 2024, to a projected loss of between RMB 9 million and RMB 10 million for the six months ending June 30, 2025, primarily due to macroeconomic factors and cautious consumer spending [1] Financial Performance - The expected loss is attributed to a decline in cemetery sales prices and a decrease in demand for funeral services, leading to reduced sales revenue [1] - The company faces increased tax costs due to tax-related issues, including additional VAT and surcharges for prior periods following notifications from tax authorities [1] - The fair value of financial assets held by the company has also decreased, contributing to the projected losses [1] Operational Strategy - The reported losses are mainly due to one-time events related to increased tax costs and fair value impairments, which do not affect the core business operations [1] - The company plans to address macroeconomic challenges through a three-dimensional approach focusing on "geographical deepening, cost efficiency, and ecological construction" to develop the entire funeral industry chain [1] - The company aims to continuously optimize operational management while maintaining robust cash flow and financial structure for sustainable development [1]