Huakang Biomedical (08622) issued an announcement that it is expected that the company owner's losses during the period will end in December 2023...
According to the Zhitong Finance App, Huakang Biomedical (08622) issued an announcement. It is expected that the loss due to the company owner will not be more than RMB 5.8 million for the year ended December 31, 2023, compared to about RMB 3.1 million for the year ended December 31, 2022. The Board anticipated an increase in losses for the current year due mainly to the following related factors: (i) the Group's gross profit decreased compared to the previous year, mainly due to a decrease in sales of health products and health products in the current year; (ii) the significant increase in impairment loss provisions confirmed in the current year on the Group's accounts receivable compared to the previous year, mainly due to domestic economic conditions affecting the Group's debtors' ability to repay; and (iii) confirmed impairment provision losses for the Group's loans and loan interest and recoverable consideration paid in the current year.