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Le Saunda Expects Wider Attributable Loss in Fiscal H1
Le Saunda (00738): Liao Zhiyin resigned as executive director.
Le Saunda (00738) announced that Liao Zhiyan has resigned as an executive of the company due to her intention to engage in other personal affairs.
Express News | Le Saunda - Liu Tsz Yan Resigned as an Executive Director
Le Saunda (00738.HK) is expected to incur a mid-term loss of 38 million to 45 million yuan.
Le Saunda (00738.HK) announced on September 9th that the board of directors expects that compared with the same period last year, the company's shareholders will have a comprehensive loss of RMB 13,900,000. The group is expected to record a comprehensive loss to shareholders of RMB 38,000,000 to RMB 45,000,000 in the middle of 2024/25. The increase in expected comprehensive loss is mainly due to (a) the continued sluggishness of the retail market in mainland China, which has led to a significant decline in total retail sales for the group; (b) the need to clear slow-moving inventory and provide higher retail discounts, resulting in a decrease in gross margin; and (c) the closure of inefficient stores.
Le Saunda Holdings Reports Declining Sales and Losses
Express News | Le Saunda Sees Consolidated Loss Attributable RMB38 Mln to RMB45 Mln for Interim Period 2024/25
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