GD-HKGBA HLDGS (01396) released a profit announcement, expecting that the company's attributable profit to equity shareholders for the first half of the year will be no less than 900 million yuan, turning the loss into a profit compared to the same period last year.

GD-HKGBA HLDGS (01396) announced that the group expects the profit attributable to equity shareholders of the company in the first half of 2025 to be no less than RMB 900 million. In the same period of 2024, the company had a loss of approximately RMB 1.028 billion, showing a significant increase in profit. The announcement stated that the turnaround from loss to profit was mainly attributed to the issuance of mandatory convertible bonds to redeem the USD-denominated outstanding 2029 senior notes (ISIN: XS2609459123; common code: 260945912) of the company, resulting in debt restructuring income of approximately RMB 1.4 billion (about HKD 1.5 billion), as well as a decrease of approximately RMB 87 million (about HKD 93.1 million) in selling expenses, management expenses, and financing expenses compared to the previous period. This was due to the continuous improvement in the company's operational and management standards.