Beijing Cuiwei Tower (603123.SH) is expected to incur a net loss of 650 million to 690 million yuan in 2024.

Beijing Cuiwei Tower (603123.SH) has announced a forecasted net loss of 650-690 million yuan for the year 2024. The main reasons for the expected loss in performance are: 1. The company's controlling subsidiary, Beijing Haike Rongtong Payment Service Co., Ltd., has been affected by a decline in industry transaction volume, increased difficulties in expanding business, and high fixed costs in the acquiring business, resulting in a significant decrease in operating performance. 2. The company's retail business revenue has declined due to the impact of the retail industry environment. The wholly-owned subsidiary, Contemporary Mall's Beijing Centergate Technologies store, has been closed for rebuilding since January 7, 2024, leading to operating losses in the retail business. Additionally, due to the impact of the retail business environment, the company has made adjustments to recognize deferred tax assets in the reporting period, which will have a certain impact on net profit.