Summary by Moomoo AI
CHI HIN GROUP HOLDINGS LIMITED (“CHI HIN GROUP”) ISSUED A POSITIVE EARNINGS FORECAST ON 18 MARCH 2024, EXPECTING NET PROFIT TO INCREASE SIGNIFICANTLY TO RMB5.0 MILLION TO RMB10.0 MILLION IN 2023, A SIGNIFICANT INCREASE FROM NET PROFIT OF APPROXIMATELY $1.3 MILLION IN 2022. This profit growth was mainly driven by the tailings production line, which was newly opened in May 2023, which produced 3 million tonnes of iron ore and generated additional revenue. However, revenue growth was partially offset by lower revenue from premixed concrete and precast concrete components and a decrease in gross profit. The Board of Directors reminds shareholders and potential investors that actual results may differ from this forecast as the results have not yet been audited and may be subject to adjustment and are advised to read the details carefully after the release of the Annual Results Announcement.