Sanai Health GP (01889) announced that the group is expected to achieve a significant reduction in income for the six months ending June 30, 2024 (this period...)
According to the announcement, Sanai Health GP (01889) expects a significant reduction in income for the six months ending June 30, 2024 (compared to the same period in 2023), with the company's attributable net profit decreasing to approximately RMB 10 million.
The announcement stated that the decrease in income and attributable net profit of the company is mainly due to the decrease in sales volume of pharmaceutical products and the increase in costs of traditional Chinese medicine materials, resulting in a decrease in gross margin; the absence of interest income from financing lease business during this period, which typically generates almost 100% gross margin; and significantly increased legal and professional expenses incurred as a result of various corporate actions taken during this period (including but not limited to the sale and acquisition of subsidiary companies). These effects were partially offset by the net gain on disposal of subsidiary companies obtained during this period.