Gelonghui, January 19, 丨 Aoxing Life Technology (06118.HK) announced that the company expects to record a loss attributable to the company owner of about RMB 110 million for the year ended December 31, 2023, compared to the profit attributable to the company owner of approximately RMB 87 million for the year ended December 31, 2022.
Expected losses are mainly due to (1) losses due to (1) losses due to H+E Pharma GmbH and S-tec GmbH (an indirect non-wholly-owned subsidiary of the company) filing for bankruptcy on August 3, 2023 in fiscal year 2023; (2) reduced revenue due to the slowdown in investment in the biopharmaceutical and pharmaceutical markets after the COVID-19 pandemic (mainly from (i) fluid and bioprocess systems, (ii) clean rooms and automated control and monitoring systems, and (iii) life The revenue of the Technology Consumables business segment decreased compared to FY2022); and (3) (i) increased project costs due to delays in execution of several projects, and (ii) overall gross margin decreased compared to FY2022 due to the above market changes and adjustments in the product structure of the Group's trade business.