Summary by Futu AI
Agile Group ("the Company") issued a profit warning on August 20, 2024, and expected to record a net loss of approximately RMB 8.5 billion to 9 billion for the six months ended June 30, 2024, compared with a net loss of approximately RMB 3.611 billion in the same period of 2023. Shareholders' share of the losses is expected to be between RMB 9.3 billion and 9.8 billion, an increase from approximately RMB 4.475 billion in the same period of 2023. The main reasons for the increase in losses include the poor real estate sales environment leading to a decrease in selling prices, increased losses from joint ventures, and impairment of assets. The Company emphasizes that these figures have not been reviewed by auditors or audit committees and will announce the final interim performance announcement in August 2024. The Company reminds shareholders and potential investors to exercise caution when trading shares.