According to Zhitong Financial App, China Tianbao Group (01427) announced its interim results for the six months ended June 30, 2023. The group achieved revenue of RMB 944 million (same unit), a decrease of 5% over the previous year; the parent company owners should have a profit of 3.1 million yuan, while the loss was 43.245 million yuan in the same period last year; profit of 0.004 yuan per share.

According to the announcement, total revenue fell 5.0% from about 994 million yuan in the same period in 2022 to about 944 million yuan in the reporting period. The main reason is that the real estate delivery area during the reporting period decreased compared to the same period in 2022, so real estate development business revenue declined compared to the same period in 2022.

The Group's gross profit increased from about 78 million yuan in the same period in 2022 to about 90 million yuan in the reporting period. During the reporting period, gross margin increased from 7.8% in the same period in 2022 to about 9.6% in the reporting period. The gross margin of the real estate development business increased from 11.0% to 19.6% during the reporting period compared to the same period in 2022. The gross margin in the construction contracting business remained stable. The gross margin of the construction contracting business increased from 5.9% in the same period in 2022 to 6.7% during the reporting period.