According to the Zhitong Finance App, Huifeng Co., Ltd. (002496.SZ) released the 2023 annual results forecast. The net loss attributable to shareholders of listed companies is expected to be between 320 million yuan and 450 million yuan for the whole year.
The losses were mainly due to: large losses of some of the company's important joint ventures in 2023; the company made bad debt provisions for part of the equity transfer payments receivable from the sale of major assets according to age, and bad debt provisions were fully calculated for the glyphosate project; the company calculated estimated compensation for the performance commitments of the sale of major assets relating to Nongyi Network; and the company's operations during the transformation and development phase fell short of expectations.