According to the Zhitong Finance App, Fuyang (00352) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 8.966 million (same unit), a year-on-year decrease of 24.81%; the company owner should have accounted for a loss of 9.125 million yuan during the year, a decrease of 36% over the previous year; and a loss of 3.79 points per share.

The Group earned a gross loss of about 300,000 yuan in the current year, while gross profit was about 300,000 yuan last year. Compared with the gross profit margin of 2.5% last year, this year's gross margin was zero. The gross loss caused by the Group's increased sales level, so the Group's marketing and promotion expenses remained basically the same throughout the year. Overall operating and administrative expenses decreased by about 29.8% compared to last year, mainly due to strict cost control policies. Due to the slow recovery of the company's real estate developer customers and the need to make more adjustments, the estimated credit loss provision for trade receivables this year is about 1.5 million yuan (2022:1.1 million yuan).