[Caihua News] Yimei International Holdings (01870.HK) announced that the loss attributable to the owners of the company for the fiscal year 2021 ended December 31, 2021 will be not less than HK $180 million, while the loss attributable to the owners of the company for the fiscal year 2020 ended December 31, 2020 will be about HK $47.8 million.
Although the revenue and gross profit of the group's permanent gondola business in fiscal year 2021 increased by no less than 50% and 25% respectively over the same period in fiscal year 2020, the increase failed to offset the losses recorded in various projects of the group's external wall engineering business due to the following reasons, resulting in an increase in the group's consolidated net loss.
According to the announcement, with the mutual agreement between the Company and the grantees and with the approval of the board of directors, the pre-IPO share options have been cancelled since January 17 in accordance with the terms of the pre-IPO share option scheme. As of January 17, all pre-IPO share options have not yet been vested, exercised or lapsed.
The Group expects to record share-based payment expenses of approximately HK $10 million in the year ended 31 December 2022 without cash expenditure (with a corresponding increase in share-based payment reserves) as accelerated vesting in accordance with the relevant accounting standards. Subsequently, the total share-based payment reserve (non-distributable reserve) of approximately HK $22 million (including the opening balance of approximately HK $12 million carried over from 31 December 2021) will be transferred to retained earnings (distributable reserve). The cancellation of pre-IPO share options has no significant adverse impact on the financial position of the Group.
After the cancellation of the pre-IPO share options, as at 17 January, there were no outstanding options under the pre-IPO share option scheme.