MILLION CITIES (02892) issues positive profit alert, expecting interim profit attributable to shareholders to be between 2 million and 10 million yuan, turning from loss to profit compared to the same period last year.

MILLION CITIES (02892) announced that, based on its preliminary assessment of the latest unaudited consolidated management accounts for the period ending June 30, 2026 (the 2026 interim period) and the currently available information, the Group expects (i) a profit after tax to be between RMB 2 million and RMB 10 million, compared to a loss of approximately RMB 4 million for the period ending June 30, 2025 (the 2025 interim period); and (ii) the profit attributable to equity shareholders of the Company to be between RMB 2 million and RMB 10 million, compared to a loss of approximately RMB 2.2 million for the 2025 interim period. The Board emphasizes that during the 2026 interim period, (a) the Company confirms net profit attributable from associates, rather than a net loss as in the 2025 interim period. This is mainly due to the recognition of revenue from the sales of properties in the Fourth Segment of Phase II of Henan Julong Bay, which were newly completed and delivered in the 2026 interim period; (b) selling expenses have decreased, mainly due to reduced marketing costs during the 2026 interim period; and (c) administrative expenses have significantly decreased compared to the 2025 interim period, primarily due to lower employee costs and professional fees.