Tailam Tech Construction Holdings Limited provided earnings guidance for the year ended 31 December 2023. The Group expects to record a consolidated loss of approximately RMB 16.9 million for the year ended 31 December 2023 as compared with the audited consolidated profit of approximately RMB 9.0 million for the year ended 31 December 2022. The expected turnaround from net profit to net loss was primarily attributable to the following reasons: the decrease in revenue of the Group, which was mainly caused by (a) the intense industrial competition and low level of infrastructural and related economic activities, which resulted in many construction projects being suspended or delayed, thereby weakening the demand for the Group's products (both commercial concrete and PHC piles); and (b) the prudent approach adopted by the Group in accepting orders, resulting in the screening out of risky projects to facilitate better risk control; the increase in provision of expected credit loss on trade receivables, resulting from the longer collection cycle of certain trade receivables; and the increase in deferred tax expense for the year ended 31 December 2023.