Gelonghui, March 8, 丨 Tianye Water Saving (00840.HK) announced that the Group expects to record an estimated net profit of RMB 3 million to RMB 5 million for the year ended December 31, 2023, and a net loss of approximately RMB 81.41 million for the financial year ended December 31, 2022.
According to data currently available to the Group, the above changes were mainly due to (i) an increase in the company's product sales volume and engineering business during the reporting year; (ii) an increase in product gross margin due to a decrease in comprehensive production costs due to increased capacity utilization; (iii) the average sales price of products was stable during the reporting year, while the average price of raw materials decreased, which led to an increase in the company's product gross profit.