Linklogis warns of wider net loss for 2024

Linklogis Inc. (HKEX: 9959) has issued a profit warning, projecting a consolidated net loss attributable to equity shareholders of between RMB810 million and RMB840 million for the year ended December 31, 2024. This compares to a net loss of approximately RMB441 million for the previous year. The increased loss is primarily attributed to a rise in impairment losses on financial assets, particularly supply chain assets held for warehousing. However, Linklogis emphasized that this increase did not materially impact its cash flow. As of December 31, 2024, the company's cash reserve reached RMB5.1 billion, up RMB200 million from the end of 2023, demonstrating sustained liquidity. The company believes strategic adjustments and core business optimization will improve financial performance going forward.