Chizhou Group (01539.HK) announced its profit, expecting to record an adjusted net profit of not less than 35 million yuan for the fiscal year ending at the end of March this year, compared to an adjusted net loss of about 64 million yuan for the same period of the previous year. Excluding the adjusted factors, the Group expects to achieve a net profit of not less than 10 million yuan for the whole year, and a net loss of about 24 million yuan in the 2023 fiscal year.

The board of directors believes that the Group's annual turnaround from loss to profit is mainly due to an increase in revenue of not less than 90% compared to the 2023 fiscal year, and the expected credit losses on trade receivables and financing lease receivables have been reversed from a loss of about 38 million yuan in the 2023 fiscal year to a recovery of about 17 million yuan.