Grandjoy Holdings reports asset impairment, reduced Q3 loss

Grandjoy Holdings Group announced asset impairment provisions totaling 107,908.98 thousand yuan as of September 30, 2025, driven by a cautious approach to property valuation. This includes 104,289.43 thousand yuan for inventory write-downs, 315.76 thousand yuan for investment properties, and 3,303.79 thousand yuan for bad debt. The impairment is expected to reduce net profit attributable to parent company shareholders by 82,593.54 thousand yuan for the first three quarters of 2025.

The company's Q3 2025 report shows a slight increase in operating income, reaching 20,647,692,779.68 yuan for the first nine months, up 0.83% year-on-year. Despite this, net profit attributable to parent company shareholders remained a loss of 532,980,197.04 yuan, an improvement (reduced loss) of 9.17% compared to the previous year. Operating cash flow decreased by 47.01% to 1,737,680,962.90 yuan.

The board of directors and the audit committee have approved these provisions and the Q3 report. Additionally, the company is progressing with the proposed delisting of Grandjoy Property Co., Ltd. from the Hong Kong Stock Exchange through a scheme of arrangement.