Changmao Biotech (00954) announced its annual results for the year ended December 31, 2023. The group received revenue...
According to the Zhitong Finance App, Changmao Biotech (00954) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 637 million (same unit), a year-on-year decrease of 12.73%; loss attributable to shareholders of the Company was 86.057 million yuan, compared with profit of 81.423 million yuan for the same period last year; loss per share was 0.162 yuan.
According to the announcement, the main reason for the loss was the decline in sales revenue and gross margin, impairment losses of Lianyungang Changmao and the write-off of deferred tax assets. The Board wishes to emphasize that, according to the Hong Kong Financial Reporting Standards, impairment losses and the write-off of deferred tax assets are a non-cash accounting treatment and have no impact on the Group's operating cash flow.