Shentiandi A: Net profit-35 million to-45 million!

On July 13, Shenzhen (Tiandi) Group Co., Ltd. released its performance report for the first half of 2023.

Shenzhen Tiandi A said in its report that it expected net profit to be negative. The net profit attributable to shareholders of listed companies was -35 million yuan to -45 million yuan, with a loss of 61.6057 million yuan in the same period last year.

The domestic economic recovery did not meet expectations, the real estate market was weak, the contradiction of excess capacity soared, and the industry market situation remained grim. Affected by the real estate policy, the company's concrete industry shut down four concrete stations in 2022, and concrete production and sales have not yet resumed, resulting in a year-on-year decline in the company's sales revenue, fixed costs are less affected by sales volume, and the phenomenon of cost inversion continues to form. Due to the increase of litigation and arbitration matters involving economic disputes, the company and its holding subsidiaries and sub-subsidiaries have increased the corresponding costs. At the same time, the litigation matters have led to the judicial freezing of some bank accounts, that is, the freezing and seizure of some assets, which has had a certain impact on the company's production and operation. On June 27,

2023, the Company received the Reply on Confirming the Non-operating Capital Occupancy Fee of Shenzhen Tiandi (Group) Co., Ltd. from Guangdong Junhao. Guangdong Junhao confirmed that the total capital occupancy fee was RMB 7447441.67, which increased the non-operating profit and loss of the Company during the reporting period. As of July 7, 2023, Guangdong Junhao Company has fully returned the non-operating fund occupancy fee of RMB 7447441.67.