Gelonghui, Feb. 27丨Meihao Group (01947.HK) announced that according to information currently available to the board of directors and preliminary review of the Group's unaudited comprehensive management accounts for the year ended 31 December 2023, the Group is expected to record a net loss of approximately RMB 11 million to approximately RMB 14 million (year ended 31 December 2022: net profit of RMB 28.6 million).
The expected loss is mainly due to the following reasons: (i) the lifting of COVID-19 prevention and control measures, the increase in the number of cases, and the overall decline in the consumer market; (ii) from April 1, 2023, due to the implementation of the dental implant collection policy in Wenzhou, which led to a sharp drop in implantable dental service revenue and gross profit; (iii) in 2023, the company introduced senior management personnel from various departments after listing as the Group's strategic development talent reserve. In addition, related compliance expenses increased significantly after listing.