Shuncheng (00531) announced that the group expects the year ended December 31, 2023 (current year) to...
According to Zhitong Finance App News, Shuncheng (00531) announced that the group expects to make a profit of about 3.3 million US dollars to about 3.8 million US dollars for the year ended 31 December 2023 (this year), while a profit of about 15.1 million US dollars for the same period in 2022.
According to reports, the decrease in expected profit for this year is mainly due to a 30.8% decrease in the Group's revenue compared to the same period in 2022, due to the continued decline in the real estate market in 2023, which led to a decrease in demand for large homes in the US; and the continued inventory removal cycle of the entire furniture industry caused a setback in the short-term performance of the Group's manufacturing business.