On August 22, Jiahua Department Store Holdings Co., Ltd. released its interim results forecast, predicting that the group's net loss will decrease from approximately RMB34 million (unaudited) in the six months ended June 30, 2023 to between approximately RMB23 million and approximately RMB27 million in the six months ended June 30, 2024.
The announcement stated that the reduction in the group's expected net loss was mainly due to the opening of Shenzhen Shajing Jiayanghui Shopping Center in July 2023. Other factors, including but indonesia phone number sample not limited to i) continued competition from online e-commerce, ii) fierce competition in physical retail, iii) factory closures and rising unemployment rates have led to a general decline in community consumption habits, and iv) foreign investment withdrawal and factory closures have reduced the permanent population, which still have a negative impact on the group's business.
On August 22, Beijing Jingkelong issued a profit warning showing that compared with the unaudited net loss attributable to the parent company's shareholders of approximately RMB 48.579 million for the six months ended June 30, 2023, the unaudited net loss attributable to the parent company's shareholders for the six months ended June 30, 2024 is expected to be approximately RMB 90 million to RMB 95 million.
Beijing Jingkelong stated that the main reason for the increase in net losses attributable to the parent company's shareholders was that during the six months ended June 30, 2024, the group's leasing costs increased significantly due to the substantial rent increases by major lessors such as Beijing Chaofu State-owned Assets Management Co., Ltd.