Tongqinglou Catering Corporation (605108.SH) forecasts a pre-reduction, with an estimated net profit of 64.05 million to 92.52 million yuan in 2024, a year-on-year decrease of 78.93% to 69.56%.

Tongqinglou Catering Corporation (605108.SH) has announced that it is expected to achieve a net profit attributable to the owners of the parent company of 64.05 million yuan to 92.52 million yuan in 2024, a year-on-year decrease of 78.93% to 69.56%. It is expected to achieve a net profit attributable to the owners of the parent company, excluding non-recurring gains and losses, of 54.336 million yuan to 78.485 million yuan in 2024, a year-on-year decrease of 78.56% to 69.03%. The company opened 8 large-scale stores in 2024, with a total floor area of 244,600 square meters. These stores incurred a large amount of start-up costs and expenses for asset depreciation and amortization as they gradually opened for business. However, the new stores are in the initial phase of climbing the revenue curve, resulting in a loss of around 35 million yuan for the new stores.