Gelonghui, March 13, 丨 Tianjin Development (00882.HK) announced that the Group expects to record comprehensive net profit attributable to company owners for the year ended December 31, 2023, which may increase by about 70% to 80% from the comprehensive net profit attributable to company owners of HK$358 million for the year ended December 31, 2022.
This increase in expectations is mainly due to (i) Lisheng Pharmaceutical Co., Ltd. recorded one-time income of approximately HK$265 million during the year on the collection and storage of industrial land and housing at No. 491 Huanghe Road, Nankai District, Tianjin; (ii) an increase in net profit attributable to Tianjin Port Development Holdings Limited (the company's listed joint venture) for the year ended 31 December 2023; (iii) an increase in operating profit from the Group's hotel business; and (iv) a decrease in the net exchange loss recorded for the year ended 31 December 2023 compared to the same period of the previous year.