China Wantian Holdings (01854) announced that the Group expects the nine months ending December 31, 2023 to...
According to the Zhitong Finance App, China Wantian Holdings (01854) announced that the Group is expected to make a net loss of approximately HK$46 million for the nine months ending December 31, 2023, and a net loss of approximately HK$28 million for the year ended March 31, 2023.
The board of directors believes that the expected increase in net loss for the period is mainly due to confirmation of goodwill non-cash impairment losses arising from the acquisition of Guanyuan Co., Ltd. in November 2022; and due to the Group's opening of a number of new restaurants in the Greater Bay Area. Due to the fact that the fixed costs and depreciation of related upfront investments have not yet been reflected in earnings, the operating losses of the Catering Service Division have increased.