Sinopharm Technology Co., Ltd. (08156) expects annual shareholders' losses to be reduced by 80% to 90%

Zhitong Finance ·  09/22/2023 22:55

According to Zhitong Financial App, Sinopharm Technology Co., Ltd. (08156) announced that in the year ending June 30, 2023, the losses attributable to equity holders of the Group are expected to decrease by 80% to 90%. Compared with the year ended June 30, 2022, losses attributable to equity holders of the company are approximately HK$88 million.

The sharp decrease in losses was mainly due to: income from the sale of locked shares associated with profit guarantees; income from issuing shares to settle loans; less loss of goodwill impairment; and the company's increased cost control efforts, leading to a reduction in administrative and operating expenses.

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