Beijing Urban Construction warns of profit decline

Beijing Urban Construction Design & Development Group Co., Limited (HKEX: 1599) has issued a profit warning, indicating a substantial decline in financial performance for the year ended December 31, 2024. The company expects revenue to range from approximately RMB 8.22 billion to RMB 9.27 billion, a decrease of 11% to 21% compared to RMB 10.36 billion in 2023. Net profit is projected to fall between RMB 466 million and RMB 553 million, representing a 39% to 49% decrease from the RMB 910 million reported in the previous year. The anticipated decline is attributed to policy adjustments in the urban rail transit industry, a slowdown in market expansion, and the commencement of the Chongqing West Express Line Construction Project's trial run. The company advises shareholders to exercise caution and await the release of its finalized annual results, expected by the end of March 2025.