Zhonggan Communication (Group) (HKG:2545) expects an attributable profit of up to 10 million yuan for 2024, down 85% from the year-ago figure of 68.6 million yuan, a Friday filing with the Hong Kong bourse said.

The telecom infrastructure services provider attributed the anticipated drop in profit mainly to a lower revenue and gross profit, an increase in the provision for expected credit losses, and higher corporate income tax expenses.