Gelonghui August 3?06118.HK announced that based on a preliminary assessment of the Group's unaudited consolidated management accounts for the six months ended 30 June 2023 and the information currently available to the board of directors, the Group is expected to record a loss attributable to the owners of the company for the six months ended 30 June 2023 of approximately RMB 40 million, while the profit attributable to the owners of the company for the six months ended 30 June 2022 is approximately 45.8 million yuan.
It is further announced that, after careful and careful consideration, Halloe Pharma and S-Tec, each of which are indirect non-wholly owned subsidiaries of the Company, filed for bankruptcy in Germany under the autonomous administration (debtor's possession) procedure on August 3, 2023 (German time). The bankruptcy application is subject to the bankruptcy proceedings supervised by the German bankruptcy court in charge of the place.
It is reported that Haue Pharma is a limited company registered in Germany and a 51 per cent subsidiary company, mainly engaged in providing integrated engineering solutions, pharmaceutical equipment and manufacturing in Germany. S-Tec, a wholly owned subsidiary of Haue Pharma, provides pre-assembly and assembly services in Germany. Happy Pharma has been losing money over the past few years.
Since the total value of H+EPharma 's consolidated assets, profits or earnings is less than 5% in accordance with any percentage ratio defined in rule 14.04 (9) of the listing rules, neither H+EPharma nor S-Tec is regarded as a principal subsidiary of the company for the purposes of rule 13.25 (2) of the listing rules.