Gelonghui, March 12, 丨 Tailin Science and Construction (06193.HK) announced that the company expects to record a comprehensive loss of approximately RMB 16,900,000 for the year ending December 31, 2023, while the previous year recorded an audited comprehensive profit of approximately RMB 9,000,000.
The expected shift from net profit to net loss is mainly due to the following reasons: (i) the decline in the Group's sales, which is mainly due to (a) intense competition in the industry and sluggish infrastructure and related economic activity, which has led to many construction projects being suspended or delayed, thereby reducing demand for Group products (including commercial concrete and PHC pipe piles); and (b) the Group takes a prudent approach when accepting orders to screen out higher-risk projects to facilitate better risk control; (ii) due to the long receipt cycle of certain trade accounts receivable, Causing trade accounts receivable An increase in anticipated credit loss provisions; and (iii) an increase in deferred income tax expenses during the year.