Zhitong Finance App News, Tianye Water Saving (00840) issued an announcement. According to the latest information available to the board of directors, including the first draft of the evaluation report issued by the independent evaluator on the recoverable amount of some fixed assets involved in the Group's proposed asset impairment test on the date of this announcement; settlement data for some of the Group's engineering projects; and further review of the adjusted Group's unaudited comprehensive management accounts. The Group expects to achieve an estimated net loss of between RMB 10 million and RMB 12 million for the year ended December 31, 2023 (net loss of approximately RMB about RMB 10 million for the fiscal year ended December 31, 2023. 81.41 million yuan).

Compared with the figures disclosed in the previous announcement (that is, estimated net profit of RMB 3 million to RMB 5 million in the reporting year), the shift is mainly due to the fact that in order to objectively and fairly reflect the Group's financial situation and operating performance during the reporting year, the company appointed independent valuers to conduct impairment tests on fixed assets with signs of impairment and issue a first draft evaluation report, which led to an increase in asset impairment losses; and according to the latest settlement schedule, the expected gross profit of some of the Group's engineering projects has declined.