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Elife Holdings Expects Loss to Widen in Fiscal H1
Elife Holdings Limited's (HKG:223) 33% Share Price Plunge Could Signal Some Risk
elife hldgs (00223.HK) expects a mid-term profit growth of around 68%.
On November 22, Gelonghui announced that elife hldgs (00223.HK) expects to record (i) a substantial increase in revenue of approximately HKD 49,400,000 for the six months ending September 30, 2024, compared to the same period last year; (ii) a significant decrease in gross profit of approximately HKD 4,900,000; and (iii) an increase in losses during the period of approximately HKD 48,800,000. Although the group's revenue during this period is expected to grow by about 68% compared to the same period last year (primarily due to the development of the group's supply chain business segment), it is anticipated that overall gross profit will decline, due to unfavorable market conditions.
Express News | Elife Sees Increase in Revenue of HK$49.4 Mln for Six Months
ELIFE HLDGS: PROFIT WARNING
elife hldgs (00223.HK) plans a 5-for-1 rights issue.
Gelonghui, November 21 │ elife hldgs (00223.HK) announced that the company proposes to conduct a rights issue, on the basis of one (1) rights share for every five (5) existing shares held on the record date, at a subscription price of HKD 0.10 per rights share, to issue up to 0.271 billion rights shares to eligible shareholders, raising up to approximately HKD 27.12 million (before expenses). The estimated net proceeds from the rights issue are expected to be approximately HKD 26.3 million, which will be used for (i) developing the group’s brand communication business, (ii) developing the group’s brand supply chain business and (iii) the group's.
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