TJCD(02515) issued a profit warning, with an estimated shareholder loss of 46 million to 51 million yuan in 2025.

TJCD(02515) announced that the Group expects to incur a loss attributable to equity shareholders of the Company ranging from RMB 46 million to 51 million for the year ending on December 31, 2025, while it earned a profit of approximately RMB 21.8 million for the year ending on December 31, 2024. The Board of Directors believes that the expected change from profit to loss is mainly attributed to (i) the slowdown in the development of the Tianjin construction industry and increased competition, leading to a decrease in revenue; (ii) impairment losses recognized for trade receivables, contract assets, and other receivables for the year ending on December 31, 2025. The impairment losses are mainly due to the slower collection of trade receivables, resulting in an increase in trade receivables with longer aging; and the slow progress in issuing contract assets, leading to an increase in contract assets with longer aging.