Minmetals Land (00230.HK) opened low this morning, down 11.76%, reaching a minimum of 0.255 yuan. It is currently trading at 0.255 yuan, with a 25% decrease in stock price, and a trading volume of 0.948 million shares, involving a capital of 0.2573 million yuan.

The company issued a profit warning last Friday, expecting a shift from profit to loss by the end of June this year, with a loss of approximately 1 billion yuan, compared to a mid-term profit of 0.112 billion yuan in 2023. This is due to a significant decrease in revenue from real estate development business, a significant decline in gross margin of real estate development business, and recognition of inventory impairment provisions and impairment losses recognized based on expected credit losses model. However, the company emphasizes that with the support of its controlling shareholder, China Minmetals Group, it is actively seeking different channels to replenish its available financial resources in order to ensure the ability to fulfill debts and maintain liquidity for daily operations.