According to the Zhitong Finance App, China Dredging & Environmental Protection (00871) announced results for the year ended December 31, 2023. The group achieved revenue of 375 million yuan (RMB, same below) during the period, a year-on-year decrease of 2.67%; losses attributable to shareholders amounted to 231 million yuan, a year-on-year decrease of 32.24%; and a basic loss of 15.34 points per share.
The announcement said that during the reporting period, the infrastructure and reclamation and dredging business segment achieved revenue of about $30.1 million, a sharp decrease of about 68.8% compared with 2022 revenue. The decline in revenue generated by the infrastructure and reclamation and dredging business segment was mainly due to the declining economic situation at home and abroad during the reporting period, delays in project implementation by project owners, and an increase in the frequency and duration of construction stoppages.