According to the Zhitong Finance App, Dynasty Home (01198) announced that the group is expected to generate a loss of about 380 million yuan in 2023, while profit in 2022 is about 10.6 million yuan.

According to the announcement, profit to loss was mainly due to the sharp decline in overall gross margin, mainly due to poor business environment and market downturn, leading to increased sales price discounts and production costs for furniture products; increased sales and distribution expenses and administrative expenses (including internal restructuring expenses); reduction in excess income tax provisions; increased general provisions for trade receivables, other receivables and inventory; revaluation losses on investment properties; increased losses attributable to associated companies; and increased financing costs.