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NAYUKI Expects Shift From Profit to Loss Last Yr w/ Adjusted Net Loss RMB970M Max.
2025-03-07 16:57:48
NAYUKI (02150.HK) has issued a profit warning predicting that for the year ended December 31, 2024, it will record revenue ranging from around RMB4.8 billion to RMB5.1 billion, representing a YoY decline of 1.2-7.1%, while its adjusted net loss under a non-IFRS measure will reach around RMB880-970 million, compared to an adjusted net profit of RMB20.9 million in 2023 under the same standards.

The group attributed this to the weak performance in the consumption market in 2024 that led to more customers leaning towards cautious spending or purpose-based spending, which, together with the intensified competition in the freshly-made tea industry, resulted in fluctuations in revenue from the group’s Nayuki self-operated stores and the store-level operating profit margin for 2024; the group closing down a number of underperforming stores in 2024, which resulted in a loss on closure of stores, and expectations of the group to continue closing down or transforming underperforming stores, for which a provision for asset impairment has been made; and the group's share of loss of associates and an impairment loss arising from certain investments.
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