Tianjin Construction Development expects a loss attributable to equity shareholders of RMB46 million to RMB51 million for the year ended 31 December 2025, versus a profit of about RMB21.8 million a year earlier. The company cited slower construction industry development and intensified competition in Tianjin as factors behind lower revenue. It also pointed to impairment losses on trade receivables, contract assets and other receivables. The company said the impairment was linked to slower trade receivables collection and a slow contract asset billing process.

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