"Profit Warning" MEIHAO GROUP forecasts a mid-term loss between 8 million and 12 million RMB

MEIHAO GROUP (01947.HK) issued a profit warning, expecting a loss of between RMB 8 million and 12 million for the six months ending in June, compared to a loss of RMB 15.1 million in the same period last year. The expected loss is mainly due to intensified profit pressure from price wars and excessive competition within the industry; a reduction in non-essential medical spending by residents; and increased advertising expenses for online platform promotions and in-hospital promotional materials