FAR INTL issues a profit warning, expecting a mid-term loss attributable to shareholders of approximately 10 million to 20 million yuan
FAR INTL issued a profit warning, expecting a mid-term loss attributable to shareholders of approximately RMB 10 million to 20 million for the period ending June 30, 2025, a significant reversal from a profit of approximately RMB 38 million in the same period of 2024. Expected revenue is between RMB 700 million and 900 million, a decrease of about 51% to 37% compared to the same period last year. The main reasons are the reduction in shipments to the United States due to changes in U.S. tariff policies, as well as increased impairment losses on trade and other receivables and goodwill
According to the announcement from FAR INTL (02516), the group expects to achieve revenue of approximately RMB 700 million to RMB 900 million for the six months ending June 30, 2025, a decrease of about 51% to 37% compared to the same period in 2024. This is mainly due to changes in U.S. tariff policies, which have led to a reduction in the volume of goods shipped to the U.S. during the six months ending June 30, 2025. The company's attributable loss for this period is expected to be between RMB 10 million and RMB 20 million, reversing from a profit of approximately RMB 38 million in the same period of 2024. This is primarily due to the aforementioned decrease in total revenue and an increase in impairment losses on trade and other receivables compared to the same period last year, as well as an increase in goodwill impairment losses of indirectly wholly-owned operating subsidiaries
