According to the Zhitong Finance App, Shuncheng (00531) announced annual results for the year ended December 31, 2023. The group achieved revenue of US$415 million during the period, a year-on-year decrease of 30.78%; profit attributable to shareholders was US$3.288 million, a year-on-year decrease of 78.26%; and basic profit per share was 0.11 cents.

According to the announcement, the decline in earnings was mainly due to the continued decline in the housing market in 2023, leading to a decrease in demand for large home furniture in the US.