Summary by Moomoo AI
The ZHONG JI LS Group has issued a profit warning, expecting to record a net loss of about 32 million to 35 million Hong Kong dollars for the fiscal year 2024, and a net loss attributable to shareholders of about 32 million to 35 million Hong Kong dollars. In contrast, a net profit of about 2.5 million Hong Kong dollars and a profit attributable to shareholders of about 2.3 million Hong Kong dollars were recorded for the fiscal year 2023.The expected loss is mainly attributed to three factors: first, a one-time legal and service fee of about 20.4 million Hong Kong dollars incurred by the company's subsidiary for the collection of long-term unpaid loans of about 1.076 billion Hong Kong dollars across multiple jurisdictions; second, the significant marketing costs of the longevity science business in China related to MNM supplements; third, the impact of the withdrawal of the MNM dietary supplement Retail Trade business. The company expects to announce the detailed financial results for the fiscal year 2024 on or before March 28, 2025.
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