Huijing Holdings expects significant deficit; trading suspension continues

Huijing Holdings Company Limited (HKEX: 9968) announced it anticipates a total deficit of approximately RMB334.5 million for the year ended December 31, 2024, a stark contrast to the RMB525.4 million equity recorded in 2023. This expected downturn is primarily driven by a net loss of approximately RMB801.3 million. The company attributes this loss to a decrease in revenue from RMB941.2 million in 2023 to RMB240.9 million due to reduced delivery project areas and lower unit prices. Increased impairment provisions for inventories, rising from approximately RMB48.5 million to RMB144.4 million, and a surge in finance costs from RMB178.4 million to RMB441.3 million, also contributed to the deficit. Trading in the company's shares remains suspended since April 1, 2025, and the company advises shareholders and potential investors to exercise caution. The Group's annual results are expected to be published by July 11, 2025.