Novi Health issued a positive profit warning on January 22, 2024, and forecast a significant increase in its financial performance for the year ended December 31, 2023. Based on the preliminary review of unaudited management accounts, the Company expects total annual revenue to reach RMB1,978.8 million to RMB2,049.8 million, a year-on-year increase of 158.9% to 168.2%; gross profit is expected to reach RMB1,807.6 million to 1,873.2 million, a year-on-year increase of 179.9% to 190.0%. The growth was mainly driven by increased sales revenue and gross profit for the Company's products, Sanitary Ware, and Spook Tubes. Among them, the sales revenue and gross profit of Changwei Qing are expected to grow 230.6% to 239.9% and 263.8% to 273.6%, respectively, to grow by 118.3% to 127.5% and 127.1% to 136.8%, respectively, to grow by 72.9% to 82.4% and 85.3% to...Show More

Novi Health issued a positive profit warning on January 22, 2024, and forecast a significant increase in its financial performance for the year ended December 31, 2023. Based on the preliminary review of unaudited management accounts, the Company expects total annual revenue to reach RMB1,978.8 million to RMB2,049.8 million, a year-on-year increase of 158.9% to 168.2%; gross profit is expected to reach RMB1,807.6 million to 1,873.2 million, a year-on-year increase of 179.9% to 190.0%. The growth was mainly driven by increased sales revenue and gross profit for the Company's products, Sanitary Ware, and Spook Tubes. Among them, the sales revenue and gross profit of Changwei Qing are expected to grow 230.6% to 239.9% and 263.8% to 273.6%, respectively, to grow by 118.3% to 127.5% and 127.1% to 136.8%, respectively, to grow by 72.9% to 82.4% and 85.3% to 96.4%, respectively. In addition, the Company's cash balances and specific financial assets are expected to increase from RMB1,572.7 million in 2022 to RMB1,819.0 million to RMB1,821.0 million. Novi Health emphasizes that the above data is unaudited and has not been reviewed or reviewed by the Audit Committee of the Company's Board of Directors for investor reference only and reminds shareholders and potential investors not to rely entirely on this information for trading decisions.