Zhitong Financial App News, Yuanmei Optoelectronics (08311) issued an announcement that it is expected that the group performance for the six months ended June 30, 2023 will turn into a loss, and the consolidated loss attributable to equity holders of the company ranges from about HK $3 million to HK $4 million, compared with about HK $2.515 million for equity holders of the company for the six months ended June 30, 2022.
The Company understands that the fair value of the Group's financial assets at fair value at profit or loss benefited from the surge in capital market interest in shares in the artificial intelligence sector during the period, the financial asset at fair value is therefore expected to achieve a fair value gain of approximately HK $8 million for the period, compared with a fair value loss of approximately HK $18.213 million for the same period in 2022. However, compared with the same period in 2022, the Group experienced a significant decrease in sales of health-related products (including 2019 coronavirus disease rapid antigen test kits, personal hygiene and disinfection products) and display panels and modules during the period, offsetting the positive impact of expected fair value gains on the financial assets of the Group at fair value in profit or loss for the period, resulting in the expected loss of the Group for the period. The company understands that the decline in sales of the Group's health-related products is mainly related to the return to normal in Hong Kong, China since January 2023, while the group shows that the decrease in sales of panels and modules is mainly related to the reduction in the supply of these products (possibly as a measure to stabilize market prices).