TRUST&FAR TECH: Expected net loss of RMB 132 million to RMB 108 million in 2024

TRUST&FAR TECH announced that it expects a net loss attributable to shareholders of the listed company of RMB 132 million to RMB 108 million for the period from January 1, 2024, to December 31, 2024, compared to a profit of RMB 106 million in the same period last year; the net loss after deducting non-recurring gains and losses is expected to be RMB 132 million to RMB 108 million, compared to a profit of RMB 114 million in the same period last year. The main reason for the performance change is that the company plans to make a provision for impairment of long-term equity investments of RMB 170 million, and at the same time, due to factors such as the slowdown in the growth of financial clients' information technology construction investment and intensified industry competition, the company's revenue scale and gross profit margin have also declined compared to the same period last year