Central China Management warns of profit decline, trading halted

Central China Management Company Limited (HKEX:9982) issued a profit warning, projecting a net profit of approximately RMB80 million for the year ended December 31, 2024. This is a considerable decrease compared to the RMB201.2 million reported for the year ended December 31, 2023, representing an approximate 60% decline. The company attributes this downturn primarily to the ongoing challenges in the real estate market, which has reduced management service fee income. While cost control measures are in place, fixed costs remain relatively high. Trading in the company's shares remains suspended since April 2, 2024, and will continue until further notice. The company advises shareholders and potential investors to exercise caution and consult professional advisors. The annual results announcement for the year ended December 31, 2024 is expected to be published by the end of March 2025.