Zhitong Finance App News, Tianping Daohe (08403) issued an announcement. Based on the preliminary assessment of the Group's financial performance for the year ended December 31, 2023 (fiscal year 2023) and the information currently available to the board of directors, the Group expects to obtain:
(1) Revenue decreased from approximately RMB 177 million for the year ended 31 December 2022 (FY2022) to approximately RMB 117 million in fiscal year 2023, mainly due to significant changes in overall economic conditions and consumption patterns after the novel coronavirus (COVID-19) pandemic in 2023, limiting people's spending capacity, which led to a ripple impact on the exhibition and event management service industry, while reducing advertising-related services, reducing corporate and personal expenses for such services and advertising-related services in fiscal year 2023; and
(2) The net loss of the company owner in fiscal year 2023 was not less than RMB 16.918 million, while the consolidated net loss of the company owner in fiscal year 2022 was approximately RMB 36.454 million, mainly due to a significant decrease in earnings. The impact was offset by anticipated net credit loss provisions for trade and other accounts receivable and contract assets.