Glonghui, March 13 | Daohe Global (00915.HK) announced that, according to a preliminary assessment of the Group's most recent unaudited comprehensive management accounts and information currently available to the board of directors, despite a 14.5% decrease in overall revenue compared to last year, the Group expects annual profit for the year ended December 31, 2022 to increase from about US$1.7 million to US$2 million.
The Board of Directors believes that the expected increase in profit is mainly due to the increase in gross margin of operating the online social networking platform business, the continuous optimization and control of operating expenses, and the total impairment loss of about 500,000 US dollars for the year ending December 31, 2022, confirmed one-time property, plant, equipment, and usage rights assets for the year ended December 31, 2022.