Summary by Moomoo AI
YESTAR HEALTH issued a positive profit forecast, expecting to achieve significant turnaround from losses to profits in the 2024 fiscal year. According to the unaudited management accounts, the group expects to record a consolidated net profit of no less than RMB 0.88 billion in the 2024 fiscal year, representing a significant improvement compared to a consolidated net loss of approximately RMB 1.3 million in 2023.The turnaround is mainly attributed to three factors: the recognition of substantial income from the discount redemption of the priority notes originally due in 2026, a reduction in financial costs following the redemption of related priority notes, and the reversal of impairment losses on certain financial assets. However, the group's impairment losses on properties, plants and equipment, right-of-use assets, and other intangible assets increased in the 2024 fiscal year, partially offsetting the expected profits. The group will announce detailed annual results on March 28, 2025.
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