Zhenro Services Group Issues Profit Warning Amid Market Challenges

Zhenro Services Group Limited ( (HK:6958) ) has provided an update.

Zhenro Services Group Limited has issued a profit warning, indicating an expected loss of up to RMB300 million for the year ending December 31, 2024, compared to a loss of approximately RMB81 million in 2023. This anticipated increase in losses is attributed to a significant impairment of goodwill due to non-renewal of contracts amid intense market competition and a decline in receivables collection rates due to the downturn in China’s real estate market. Stakeholders are advised to exercise caution and await the company’s annual results announcement expected on March 27, 2025.

More about Zhenro Services Group Limited

Zhenro Services Group Limited is a company incorporated in the Cayman Islands, primarily operating in the real estate services industry. The company focuses on providing property management and related services, with a market presence primarily in the People’s Republic of China.

YTD Price Performance: -17.65%

Average Trading Volume: 224,162

Technical Sentiment Consensus Rating: Buy

Current Market Cap: HK$145.3M

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