Hyundai Chinese Medicine Group (01643) issued an announcement. It is expected that the Group will take...
According to the Zhitong Finance App, Modern Chinese Medicine Group (01643) announced that it is expected that the Group will obtain a net profit of RMB 46 million to RMB 51 million for the year ended December 31, 2023, a decrease of about 42% to 48% from approximately RMB 87.8 million for the year ended December 31, 2022. According to the directors, the decline in net profit was mainly due to a decrease in dealer orders due to changes in government policies; and an increase in procurement costs. Notwithstanding this, the Board does not expect the Group's overall operations and cash flow to be significantly adversely affected. As of the date of this announcement, the Group had sufficient cash on hand to meet its current business needs.