Profit turned to loss on downturn

Hong Kong IPO disclosure precedents · 21 companies, 21 items

Historically profitable company or segment turning to losses during the track record due to industry downturn, weak demand or costs (e.g. acquisition fixed costs) not absorbed by revenue.

2023-09-28Prospectus

Shiyue Daotian Group Co., Ltd.十月稻田集团股份有限公司09676.HK

We had net loss of RMB172.9 million in 2021 compared to net profit of RMB14.0 million in 2020, primarily due to (i) the increase in cost of sales; (ii) the increase in administrative expenses, especially share-based payments; and (iii) the increase in changes in the carrying amount of financial instruments issued to investors, despite (iv) the increase in revenue.
Summary · p. 11

Our net loss increased significantly from RMB172.9 million in 2021 to RMB564.2 million in 2022, primarily due to (i) the increase in cost of sales; and (ii) the increase in administrative expenses, especially share-based payments, despite (iii) the increase in revenue; and (iv) the decrease in changes in the carrying amount of financial instruments issued to investors.
Summary · p. 11

The company's explanation, the adviser's view and the page in the filing: see Matters

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