Zhitong Finance App News, *ST Xinlian (000620.SZ) released the 2023 annual results forecast. Net profit attributable to shareholders of listed companies is expected to be 300 million yuan to 450 million yuan for the whole year, turning a loss into a profit over the previous year.

Reasons for the change in performance: 1. On December 29, 2023, based on the “Civil Ruling” (2023), issued by the Beijing No. 1 Intermediate People's Court, the ruling confirmed the completion of the implementation of the company's restructuring plan and terminated the company restructuring process. After the restructuring was completed, debt restructuring proceeds of about 25.9 billion to 3.88 billion yuan were generated. The above restructuring proceeds were included in the current period's non-recurring profit and loss. After the restructuring was completed, the company's balance and liability structure was significantly improved; 2. In 2023, through a series of business initiatives such as improving service standards, enhancing customer care, improving production quality, expanding secondary sales categories, developing night travel economy, and enriching experience programs, etc., the company's current cultural tourism revenue increased significantly over the same period of the previous year; 3. The carry-over revenue from the current real estate project declined from the previous year, resulting in a decrease in the gross profit of the real estate project; 4. During the reporting period, the company generated asset disposal revenue of 380 to 57 million yuan from the company's hotel assets; Debt restructuring income of 4.4 to 660 million yuan was generated from debt repayment, etc.; the amount of impact of the company and subsidiaries on net profit due to tax arrears, administrative penalties, etc. was -7.2 to -1.08 billion yuan; the above profit and loss are included in current non-recurring profit and loss.