Sky Light Holdings Limited (HK:3882) has released an update.
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Sky Light Holdings Limited reported that Wuhan Show Life, in which it has a 51% equity interest, has incurred a significant net loss for the year ended December 31, 2023, falling short of the guaranteed net profit and leading to no adjustments in consideration shares or promissory notes. The net loss was mainly due to an impairment loss on non-current assets in the AI vending machine retailing business, compounded by a challenging market and competition from online platforms. Consequently, the first batch of consideration shares and promissory notes were not issued to the vendor as Wuhan Show Life did not meet the profit guarantee terms.
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