Zhongtong Finance and Economics APP News, Chuanglian Holdings (02371) announced that the expected net loss for the eighteen months ended June 30, 2024 is expected to be no less than approximately RMB 70 million, compared to the net profit of approximately RMB 10.884 million for the twelve months ended December 31, 2022.

The group's performance expectations during the reporting period changed from profit to loss, mainly due to the comprehensive impact of the following factors: the education consulting and network training and education services division is expected to incur a loss for the eighteen months ended June 30, 2024 compared to the division's net profit in the corresponding period, amounting to approximately RMB 37.371 million. This is mainly due to a decrease in revenue from network training and education services (which have a higher gross margin), an increase in costs for on-site training services, and a decrease in compensation income of approximately RMB 22 million; and a decrease in net profit contribution from financing rental & leasing services of approximately RMB 7 million after selling certain subsidiaries in December 2022.