SINOLIFE UTD issued a profit warning, expecting the net profit for the fiscal year 2024 to decrease to approximately HKD 32 million to HKD 38 million compared to the previous year
SINOLIFE UTD issued a profit warning, expecting the net profit for the fiscal year 2024 to decrease to approximately HKD 32 million to HKD 38 million, a decline from HKD 52.6 million in the fiscal year 2023. The company stated that the decrease in net profit is mainly due to significant investments in brand promotion and marketing
According to the Zhitong Finance APP, SINOLIFE UTD (03332) announced that the group expects to achieve a net profit of approximately RMB 32 million to RMB 38 million for the year ending December 31, 2024, compared to a net profit of approximately RMB 52.6 million for the year ending December 31, 2023.
The announcement stated that the decrease in net profit is mainly due to the company investing a significant amount in brand promotion expenses for its long-term development for the year ending December 31, 2024
