Hendry (03389) announced that it is expected that the profit attributable to the Group's shareholders for the year ended December 31, 2023 will turn into a loss of approximately RMB 33.8 million, while the loss attributable to shareholders of the company during the same period in 2022 is approximately RMB 8.22 million.
According to the announcement, the expected change in profit from profit to loss is mainly due to increased gross profit and gross margin due to fluctuations in commodity trade prices; and a sharp drop in inventory provisions and operating expenses of the watch business due to the termination of the watch business.