Asia
Tian Chang Expects Up to 289% Wider Pre-tax Loss in H1
Tian Chang (HKG:2182) expects to post a pretax loss of HK$30 million to HK$35 million for the first half, widening 233% to 289% from a pretax loss of HK$9 million a year earlier, according to a Wednesday Hong Kong bourse filing.The company expects first-half revenue to range between HK$170 million and HK$175 million, down about 33% to 31% from HK$254.2 million a year earlier.Tian Chang attributed the wider loss to weaker customer demand that reduced order volumes and revenue, as well as lower gross profit margin due to declining production volumes.
HKG:2182
