Wanjia Group Expects Substantial Annual Loss

Wanjia Group Holdings Ltd. (HK:0401) has released an update.

Wanjia Group Holdings Ltd. has issued a profit warning, anticipating a significant loss of approximately HK$40 million for the year ended March 31, 2024, a stark contrast to the HK$1.94 million profit from the previous year. The projected loss is attributed to expected credit losses, a refund of charges deemed excessive by a medical security bureau in Guangdong, and an impairment loss of goodwill due to new cost control measures and upcoming capital investments in a new centre. These factors signal a challenging fiscal period ahead for the health services provider, despite no operational breaches.

For further insights into HK:0401 stock, check out TipRanks’ Stock Analysis page.