Weicheng International Holdings (08107) announced that the Group expects to withdraw in the nine months ending September 30, 2023...
According to the Zhitong Finance App, Weicheng International Holdings (08107) announced that the Group expects to obtain a net loss attributable to company owners of approximately HK$28 million in the nine months ending September 30, 2023, while obtaining a net profit of HK$1.4 million attributable to company owners in the same period in 2022.
According to the announcement, losses during the period were mainly due to the combined impact of a decrease in sales revenue and a decrease in gross profit for clothing and related products due to a clothing customer filing a product claim for products supplied by the group; an increase in sales and distribution expenses driven by advertising; and an increase in administrative expenses due to the distribution of bonuses as rewards and professional service expenses.