Hongxing Corp.: Expected net profit in the first half of 2025 to decline by 78.49% - 83.27% year-on-year

Hongxing Corp. announced that it expects the net profit attributable to shareholders of the listed company for the period from January 1, 2025, to June 30, 2025, to be between 10.5 million and 13.5 million yuan, a decrease of 78.49% - 83.27% compared to 62.7621 million yuan in the same period last year. The net profit after deducting non-recurring gains and losses is expected to be between 8.1 million and 11.1 million yuan, a decrease of 58.68% - 69.85% compared to 26.862 million yuan in the same period last year. The basic earnings per share are expected to be between 0.08 yuan/share and 0.1 yuan/share, compared to 0.48 yuan/share in the same period last year. The performance change is mainly due to the receipt of insurance compensation of 46.5 million yuan in the same period last year, which is not present in this period, as well as a decline in sales gross margin due to intense industry competition. In addition, the completion of construction projects has led to an increase in period expenses