RSUN SER (01971.HK): Expects H1 Net Profit of No More Than RMB 5 Million on Higher Receivables Impairment

NewTimeSpace News: On 19 August 2026, Redsun Services Group Limited (stock code: 01971) issued a profit warning, expecting a net profit of no more than RMB 5.0 million for the first half of 2026, versus a net profit of approximately RMB 28.0 million in the prior-year period; profit attributable to equity holders is expected to be no more than RMB 8.0 million, versus approximately RMB 24.0 million a year earlier.

The announcement attributed the decline mainly to the persistent impact of the property market environment, with increased impairment provisions on receivables from related property developer customers facing liquidity difficulties, as the related-party bad debt ratio rose from 52.6% for the year ended 31 December 2025 to 56.1% in the period. Meanwhile, the Group's exit from property management business of certain projects pushed the overall receivables bad debt ratio up from 17.6% to 21.6%. The results announcement will be published by the end of August 2026.

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