Zhitong Financial App News, Sinopharm Technology (08156) announced its annual results for the year ended June 30, 2023, with an income of HK $42.839 million, an increase of 4.5% over the same period last year; the company's equity holders had a loss of HK $10.635 million, which was 87.91% lower than the same period last year; and the basic loss per share was HKD 0.06 cents.
The increase in revenue is due to the signing of cooperation agreements with suppliers of large health products to provide supply chain services in mainland China and Hong Kong, the announcement said.
The decrease in losses was mainly due to lower impairment losses on goodwill and other assets in 2023 compared with 2022; compensation income related to profit assurance of HK $92.8 million and impairment losses of HK $74.8 million receivable; and enhanced cost control by the company, administrative and operating expenses decreased compared with the same period in 2022.