Zhitong Financial APP News, Huafang Group (03611) issued an announcement that the group expects a loss of about 29.1 million yuan (RMB) for the six months ending June 30, 2023 (the same as below), while a profit of about 205 million yuan for the same period in 2022.
The Group's adjusted net profit (measured by non-IFRS measures) during the reporting period is expected to be about $56.4 million, compared with about $224.4 million for the same period in 2022. The Group's adjusted net profit refers to the adjustment of the Group's profits during the period to recoup share-based remuneration expenses and listing expenses. Share-based remuneration expenses are expenses arising from the grant of restricted shares and share options. The listing expenses are the expenses incurred in respect of this global offering recognized in the consolidated income statement for the two years ended 31 December 2021 and 2022 and the six months ended 30 June 2023.