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Coolpad Group Advances Towards Trading Resumption
Coolpad Group (02369.HK) business operations are proceeding as usual in all major aspects, and the trading halt continues.
Coolpad Group (02369.HK) announced on September 30th that, as of this announcement date, despite the suspension of trading in the company's shares, the group's business operations are continuing as usual in all major aspects. The company will continue to closely monitor its financial condition and business operations, and will make further announcements as appropriate. Trading remains suspended.
COOLPAD GROUP: UPDATE ON PROGRESS OF RESUMPTION
Coolpad Group Expects Substantial Loss Reduction
Coolpad Group (02369.HK) expects a net loss of about 90 million to 95 million Hong Kong dollars in the first half of the year.
Coolpad Group (02369.HK) announced on September 5th that the Group is expected to record an estimated net loss attributable to owners of the company of approximately HKD 220 million to HKD 225 million for the fiscal year 2023, compared to a net loss of approximately HKD 625 million for the same period in 2022. The decrease in net loss is mainly due to the transformation of gross loss into gross profit, as well as significant reductions in sales and distribution expenses, as well as administrative and other expenses. The improvement is a result of the Group's adjustment to its product branding and sales incentive policies in 2023, as well as the restructuring of its composite channel structure, with a focus on reshaping its operator channels and launching low-cost e-commerce channels. Additionally,
Express News | Coolpad Group Ltd - Expected Result Due to Significant Reduction in Selling and Distribution Expenses, Others
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