Gelonghui, March 8, 丨 Weicheng International Holdings (08107.HK) announced that the Group expects to record a net loss attributable to the company owner of approximately HK$34 million for the year ended December 31, 2023, while the net profit attributable to company owners was approximately HK$4.9 million for the year ended December 31, 2022.
The Board believes that the loss recorded for the year ended 31 December 2023 was mainly due to (i) a decline in sales of apparel products due to slower than expected economic recovery; (ii) an increase in sales costs due to a one-time claim involving the quality of the Group's products; (iii) the allocation of directors' bonuses; and (iv) an increase in marketing expenses for the Group's products.