Gelonghui July 26 | Tianchang Group (02182.HK) announced that the Group expects the revenue recorded for the six months ending June 30, 2024 to be reduced by at least 40% compared to the revenue of HK$0.4009 billion for the same period in 2023. The Group is also expected to record 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.

According to the announcement, the decrease in expected revenue and net profit is mainly due to reduced sales in the Integrated Injection Moulding Solutions segment and the e-cigarette (“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.