Lingnan Eco&Culture-Tourism (002717.SZ) announced its earnings forecast for the first half of 2024. According to preliminary calculations by the finance department, it is expected to achieve a net loss attributable to shareholders of the listed company of 0.2-0.25 billion yuan in the first half of 2024, a year-on-year increase from the loss of 0.108 billion yuan in the same period last year. After deducting non-recurring gains and losses, the net loss is expected to be 0.19-0.24 billion yuan, compared to a loss of 0.11 billion yuan in the same period last year. The basic loss per share is expected to be 0.12 yuan/share-0.15 yuan/share.
Explanation for the change in performance: In the first half of 2024, on the one hand, due to the impact of the cyclical and market supply and demand changes on the industry, government investment has been reduced, and the company is optimizing its business order structure and strategic layout, resulting in a overall decline in construction income due to the failure to meet the expected new orders. Secondly, the company's main customers are various investment and financing platforms of local governments or their subsidiaries, some of which are affected by difficulties in local government finance and have not been able to pay the company's engineering payments in a timely and full manner. The collection period has been extended, and the delay in collection has hindered the construction progress of the company's ongoing projects, which has comprehensively affected the company's performance. In addition, the settlement time of the inventory project progress and completion settlement has been extended, and the amount that can be paid has also decreased. Although the overall production and operation of the company are still in the process of gradual recovery, the overall revenue in the first half of the year has decreased compared to the same period last year, and daily operating expenses still need to be maintained, resulting in a significant loss in the reporting period. In the second half of the year, the company will continue to adhere to its development strategy, improve its overall strength and profitability, seize orders, strengthen the finishing of inventory projects, promote the completion and acceptance of projects, increase efforts to clear debts, ensure the collection of accounts receivables, optimize the debt structure, actively introduce new investors, and empower the company from the aspects of strategy, business, and finance.