trad chi med (00570.HK) is expected to see a year-on-year decline of 60%-70% in net income for the mid-term.

Gelonghui Finance · Aug 21 08:30

Gelonghui August 21st, trad chi med (00570.HK) announced that the company expects a 60%-70% year-on-year decrease in net income for the six months ending June 30, 2024, mainly due to: (1) the traditional chinese medicine formula granule business is affected by multiple factors such as price reductions in centralized procurement and increased market competition, leading to a decline in sales scale and profitability; (2) the increase in accounts receivable with long aging in this period leads to a year-on-year increase in credit impairment losses; and (3) the retroactive payment of taxes by some of the company's subsidiaries has a significant impact on the group's current net income.

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中国中药(00570.HK)预计中期净利润同比下降60%-70%

trad chi med (00570.HK) is expected to see a year-on-year decline of 60%-70% in net income for the mid-term.

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