Tongfang Tide (01206) disclosed the 2023 annual results announcement. The company achieved revenue of 1,838 billion yuan during the reporting period...
According to Zhitong Finance App, Tongfang Tide (01206) disclosed the 2023 annual results announcement. The company achieved revenue of 1,838 billion yuan (RMB, same below) during the reporting period, an increase of 5.70% over the previous year. Gross profit was 169 million yuan, a year-on-year decrease of 44.20%. The loss due to equity shareholders of the company was 101 million yuan, which changed from profit to loss over the previous year. Loss of $0.1291 per share.
During the reporting period, due to the slow recovery of the target market and the intensification of competition in the industry, gross margin declined markedly during the period in order to ensure market share and adjust market strategies accordingly, which had a significant adverse impact on net profit. Coupled with an increase in impairment provisions for some projects, losses were recorded this year.