CHINA YOUZAN (08083.HK) announced the annual results for the year ended 31 December 2021. The revenue declined 13.8% year on year to RMB1.57 billion. The loss widened to RMB2.509 billion from that of RMB295 million in the corresponding period of the previous year. LPS was RMB0.1466. No dividend was declared.
The independent auditor of the company expressed that the Group had incurred a loss of approximately RMB3.293 billion for the year ended 31 December 2021 and the Group had net current liabilities of approximately RMB193 million as at 31 December 2021. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the Group’s ability to continue as a going concern, the auditor's report added.
The independent auditor of the company expressed that the Group had incurred a loss of approximately RMB3.293 billion for the year ended 31 December 2021 and the Group had net current liabilities of approximately RMB193 million as at 31 December 2021. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the Group’s ability to continue as a going concern, the auditor's report added.