Summary by Moomoo AI
EC Healthcare (formerly known as 醫思健康) issued a profit warning, predicting a decline in financial performance for the fiscal year ending on March 31, 2024. According to the preliminary unaudited comprehensive management accounts, the company expects profit before tax, depreciation, and amortization to decrease by no more than 10% from the previous fiscal year's HKD 430 million, and net profit will not exceed HKD 25 million, compared to HKD 107 million in the same period in 2023. The board of directors stated that the decline in profits is mainly due to the increase in interest rates resulting in increased borrowing costs, lower leverage in newly established service points, increased depreciation and amortization expenses due to the addition of new service points for internal expansion, inflationary pressure, and reduced government subsidies for employment protection programs. The company emphasized that these figures have not been audited and may be affected by other factors. EC Healthcare is expected to announce detailed performance results by June 27, 2024, or earlier.