Beijing Jingkelong Forecasts Sharp Rise in Losses

Beijing Jingkelong Co. Ltd. Class H (HK:0814) has released an update.

Beijing Jingkelong Co. Ltd. has issued a profit warning, anticipating a significant increase in net losses for the first half of 2024, estimated to be between RMB 90 million to RMB 95 million, compared to the previous year’s loss of RMB 48.6 million. The company attributes the increased losses primarily to substantial lease cost increases following rental adjustments by major lessors. Shareholders and potential investors are advised to exercise caution when dealing with the company’s shares.

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