Summary by Moomoo AI
Yun Bai International Limited (“Yun Bai International”) issued a positive earnings forecast on 8 March 2024 and expects net profit of between HK$130 million and HK$150 million for the fiscal year ended 31 December 2023. The forecast showed a significant improvement compared to the previous financial year, when the company recorded a loss of HK$168.9 million to shareholders. The increase in earnings was primarily due to three factors: the proceeds from the sale of a subsidiary, a significant decrease in the expected net provision for credit losses, and improved operating results resulting in an increase in gross profit. Yunbai International noted that these data are based on an initial review of unaudited comprehensive management accounts and may be subject to further adjustments. The company will announce detailed annual results by the end of March 2024.