According to Zhitong Finance App News, WANG ON GROUP (01222) issued an announcement. Based on the preliminary assessment made by the board of directors after reviewing the Group's draft unaudited comprehensive management accounts for the six months ended September 30, 2026 (review period) and the information currently available to the board of directors, the Group expects to record a loss of approximately HK$355 million attributable to the owner of the parent company for the six months ended September 30, 2025 (corresponding period) to a profit of not less than HK$80 million during the review period.
The Board considers that the expected conversion of loss to profit is mainly due to the following factors: (1) the reduction in sales and distribution expenses from about HK$249 million in the corresponding period to about HK$175 million during the review period, which is consistent with the decline in revenue recognized from the sale of properties from about HK$597 million in the corresponding period to approximately HK$52.9 million during the review period, due to a decrease in the number of property units delivered to buyers during the review period; (2) there was no confirmation of a loss of approximately HK$208 million (the loss was confirmed during the corresponding period); (3) It was confirmed that one-time and non-cash proceeds of approximately HK$286 million were due to the exemption (as defined below), of which approximately HK$150 million was attributable to the owner of the parent company; and (4) confirmed that properties under development were deducted about HK$50 million in non-cash transfers during the review period, while the corresponding period confirmed that properties held for sale were deducted by about HK$32.4 million, mainly reflecting an improvement in the estimated net realizable value of related property projects. Some of the profits of joint ventures and associated companies due to the Group were reduced from about HK$60.7 million to about HK$22.3 million during the review period offset.