Summary by Moomoo AI
Bard International Limited issued a profit warning on March 15, 2024, expecting a loss of around HK$1.9 billion to HK$2.1 billion for 2023, a significant increase from the loss of HK$14.3 million in 2022. The expected loss was primarily due to an increase in expected credit losses on receivables and receivable financing lease payments in the supply chain business, a loss in the value of invested properties, a decrease in dividend income, a loss on the sale of owned properties by subsidiaries and a significant decrease in revenue from the supply chain business. The Company notes that this information is based on a preliminary assessment and has not been reviewed or discussed by the Audit Committee and the Auditors and may be adjusted. Bard International expects to release audited annual results by the end of March 2024. Shareholders and potential investors should act with caution.
