Tian Chang GP (02182) has announced that the group is expected to receive revenues for the six months ending June 30, 2024...
Tian Chang GP (02182) has announced that the group's expected revenue for the six months ending June 30, 2024 is expected to decrease by at least 40% from the same period in 2023, with a net loss expected for the same period compared to the net profit of HKD 20.6 million in the same period of 2023.
The decrease in expected revenue and net profit is mainly due to the decrease in sales of the integrated injection molding solution segment and the electronic cigarette segment. Due to uncertain factors in the global economic environment, high inflation rates, and conservative consumer behavior, consumer demand and customer order volume have been negatively impacted. Therefore, the revenue of the integrated injection molding solution and e-cigarette products is expected to decline during the six months ending June 30, 2024.
The Board of Directors expects that the credit risk, liquidity risk, and financial stability faced by the group will not see any significant changes in the remaining fiscal year.