Yongmao Holdings Limited provided earnings guidance for the second half and full financial year ended 31 March 2024. For the second half, based on the preliminary assessment of the Group's unaudited financial results for 2H FY2024, the Group is expected to record a significantly lower net profits for 2H FY2024 compared to the same period last year and total comprehensive loss attributable to shareholders. The decrease in net profits can be attributed to reduced revenue in the People's Republic of China ("PRC") and Singapore. The decrease in the PRC is driven by the sluggish domestic economy stemming from an ongoing property market slowdown and weak global demand for manufactured goods. The lower sales of tower crane in Singapore can be attributed to a maturing market, where demand for new units of large and mega size tower cranes has tapered off.

For the full year, Net profit and total comprehensive income for the full year ended 31 March 2024 is expected to remain positive.