Yuanda China Holdings reports significant loss for 2024

Yuanda China Holdings (HKEX:2789) announced a significant loss of RMB354.0 million for the year ended December 31, 2024, a stark contrast to the RMB25.3 million profit reported in the previous year. The company attributed the downturn to challenging macroeconomic conditions, unfavorable market environments, foreign exchange losses, and the reversal of deferred tax recognition. Revenue decreased by 13.9% to RMB2,212.3 million. The board does not recommend the payment of a dividend for the year but proposed a special dividend distribution of HKD0.04 per share amounting to approximately RMB229.97 million. The company's backlog increased by 15.7% to approximately RMB11,404.3 million.