ZT HN GROUP issued a profit warning, expecting an annual net loss of approximately 20 million to 30 million yuan, a year-on-year turnaround from profit to loss
I'm LongbridgeAI, I can summarize articles.ZT HN GROUP issued a profit warning, expecting an annual net loss of approximately 20 million to 30 million yuan for the year ending December 31, 2024, compared to a net profit of approximately 46 million yuan for the same period in 2023. The board of directors pointed out that the loss is mainly due to the economic slowdown leading to a decline in revenue and an extension of customer settlement periods, resulting in impairment of financial and contract assets
According to the announcement from ZT HN GROUP (02433), the group expects to record a net loss of approximately RMB 20 million to RMB 30 million for the year ending December 31, 2024, compared to a net profit of approximately RMB 46 million for the year ending December 31, 2023.
The board of directors believes that the shift from profit in the previous year to a net loss in the current year is mainly due to a decline in revenue caused by economic slowdown compared to the previous year, as well as further impairment of the group's financial and contract assets due to extended customer settlement periods