Gelonghui June 29th 丨Dafeng Equipment (02153.HK) announced,For the year ended March 31, 2023, the company's equity holders' losses were RMB 35.8 million, a decrease of RMB 83.4 million, or RMB 175.2%, from the year ended March 31, 2022. The reduction was mainly due to (i) a sharp increase in exchange losses from foreign currency loans and other foreign exchange risks of approximately RMB 37.2 million; and (ii) the COVID-19 outbreak and corresponding control measures (particularly in East China) caused delays and delays in some projects, thereby affecting the Group's earnings, leading to a decrease in earnings.

For the year ended March 31, 2023, the Group's revenue was RMB 770.8 million, a year-on-year decrease.Projects have been delayed and delayed mainly due to the COVID-19 outbreak and corresponding control measures (particularly in East China). Although the company's total tonnage used increased from 3,112,084 for the year ended March 31, 2022 to 3,192,710 for the year ended March 31, 2023, the average monthly service price per tonne used by tower cranes dropped from RMB 279.0 to RMB 241.0.On the date of the announcement, the company managed a total of 1,166 tower cranes, equipped with tower cranes to cater to the company's clients' professional EPC projects across China.

Despite many challenges, the Group actively optimizes operations and management. The Group's subsidiaries have used self-developed software “TOP” and “Aijiantong” to expand data management to improve their management and operation efficiency. The company continues to optimize and adjust internal procedures to further strengthen the Group's business operations. At the same time, the Group is committed to pursuing high-quality projects and actively seeking business contracts for clean energy, infrastructure and public construction, particularly large tower crane distribution services, to enhance business and financial performance in the next financial period.

Looking forward to the future, the company will continue to improve and focus on the Group's strategic goals for sustainable development, guided by the core values of “virtue, safety and excellence”. Through a series of initiatives to improve data management, share resources, reduce costs and increase efficiency, and actively explore multinational businesses throughout the Group, we have realized the Group's century-old corporate vision of “being the best construction equipment service provider”.