Gaoxin Retail (06808) fell by more than 5% after the announcement. As of press release, it was down 5.52% to HK$1.37, with a turnover of HK$10.353,200.
The Zhitong Finance App learned that Gaoxin Retail (06808) fell by more than 5% after the announcement. As of press release, it was down 5.52% to HK$1.37, with a turnover of HK$10.3532 million.
According to the news, Gaoxin Retail issued a profit warning. It is expected that the Group will make a net loss of about RMB 1.6 billion to RMB 1.7 billion (unaudited) for the year ended March 31, 2024 in accordance with the Hong Kong Financial Reporting Standards, compared to the net profit of RMB 78 million for the year ended March 31, 2023.
According to the company's announcement, the expected net loss is mainly due to impairment losses recorded for the year ended March 31, 2024, mainly due to negative cash flow, impairment of usage assets, fixed assets, and goodwill of stores closed, etc.