On March 12, GLONGHUI | GHW INTL (09933.HK) announced that the Group expects to record profit attributable to company owners of approximately RMB 3 million for the year ended December 31, 2023, while the profit attributable to company owners is approximately RMB 275 million for the year ended December 31, 2022.
Based on currently available data, the anticipated decrease in profit attributable to company owners for the year is mainly due to (i) reduced gross profit from our main products (including cholesteryl chloride, beet, iodine and iodine derivatives); and (ii) increased administrative expenses due to increased transportation and consultancy fees for carrying out feasibility studies for potential expansion plans and site visits to locations such as Malaysia, and increased safety and environmental expenses due to increased safety and environmental expenses due to the expansion of the product range, partly due to (i) sales and distribution expenses (due to a significant reduction in transportation and logistics costs); and (ii) income tax expenses Offset, which is consistent with the reduction in profit before tax generated during the year.