According to the Zhitong Finance App, Tianping Daohe (08403) announced results for the 3 months ending March 31, 2023, with earnings of 7.257 million yuan (RMB, same below), down 27.9% year on year; net loss of 4.481 million yuan, up 23.9% year on year; and basic loss of 3.91 points per share.
The decrease in revenue during the period was mainly due to a decrease in revenue from advertising-related services compared to the 3 months ending March 31, 2022. The Group is trying to shift advertising-related services in the post-COVID-19 market to exhibition and showroom business, focusing its resources on businesses with higher profit margins.