Huafa Property forecasts 87% profit plunge on market woes

Huafa Industrial Zhuhai expects net profit to plunge 86.69% to around 168.33 million yuan in the first half of 2025, down from 1.26 billion yuan a year earlier.

Despite operating revenue rising 53.76%, the property developer cited declining gross profit margins from real estate projects due to market conditions and asset impairment provisions for the sharp profit drop.