YuanShengTai Dairy Farm (HK:1431) has released an update.
YuanShengTai Dairy Farm Limited reports a substantial impairment loss due to underperformance in goat milk sales and higher feed costs. Despite thorough due diligence prior to acquiring Lvneng Shengtai’s assets, the company faced a significant loss in 2023, leading to a reassessment of asset values. The dairy industry’s challenges, like the economic slowdown post-COVID-19 and a decrease in raw goat milk prices, have impacted the company’s expectations and performance.
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