According to the Zhitong Finance App, Tianchang Group (02182) announced that the Group's revenue for the six months ended June 30, 2024 will be reduced by at least 40% compared to the revenue of HK$0.401 billion for the same period in 2023. The Group is also expected to have a net loss for the six months ended June 30, 2024, which is at least 130% lower than the net profit of HK$20.6 million for the same period in 2023.

The decrease in expected revenue and net profit is mainly due to lower sales volume in the Integrated Injection Moulding Solutions segment and the e-cigarette segment. Due to uncertain factors in the global economic environment, high inflation rates, and conservative consumption behavior, consumer demand and customer order numbers have been adversely affected. As a result, revenue from integrated injection molding solutions and e-cigarette products declined respectively during the six-month period ended June 30, 2024.

The Board of Directors anticipates that there will be no significant changes in the credit risk and liquidity risk faced by the Group and its financial stability for the remainder of the financial year.