ST Tianlong revises 2024 loss forecast sharply higher

Jiangsu Huasheng Tianlong Photoelectric (SZSE:300029) has revised its 2024 earnings forecast, projecting a greater net loss than previously estimated. The company now expects a loss between RMB 26.7 million and RMB 31.2 million, a substantial increase compared to the earlier forecast of RMB 19.09 million to RMB 23.09 million. The revision stems primarily from the judicial auction of company assets, resulting in a write-down that impacts net assets. The company also cautions that its net assets may be negative, potentially triggering a delisting risk warning from the Shenzhen Stock Exchange.