Texhong International Group Limited provided unaudited consolidated earnings guidance for the year ended 31 December 2024. For the year, the the Group is expected to record a net profit of about RMB 580 million, as compared to the net loss of the Group for the year ended 31 December 2023 of approximately RMB 299 million. The Group expects to record a net profit mainly due to the recovery in market demand in the textile industry during the Year, such that both the sales volume and capacity utilization rate of the Group increased when compared with the year ended 31 December 2023, allowing the product gross profit margin to gradually return to normal levels during the Year.
In addition, benefiting from the Group's proactive cost management and control policies, selling expenses and interest expenses during the Year decreased significantly when compared with the year ended 31 December 2023.
