Singholdings (01440.HK) issued a profit warning, expecting to record a net loss of approximately 1 million RMB as of the end of June this year, a significant narrowing of about 82.1% compared to the same period last year.

The board of directors believes that the reduction in estimated losses is mainly due to the outstanding performance of the footwear business, resulting in an expected annual increase in the group's earnings by 5 to 6 times.