Summary by Futu AI
Jen Su Li Do Group Co., Ltd. (“Jen Su Li Do”) issued a positive earnings forecast on March 10, 2024, expecting significant growth in revenue and net profit for the full year 2023. According to preliminary estimates, revenue in 2023 will be no lower than RMB 70 billion, up from $59 billion in 2022; net profit is expected to be no lower than RMB 23 billion, a significant increase from 2022. In addition, net profit adjusted for non-international financial reporting criteria is expected to be no lower than RMB 16 billion, an increase from RMB12 billion last year. The growth was driven primarily by the Company's four white wine brands driving revenue growth, higher gross margins, and adjustments to the fair value accounting of non-cash financial instruments. THE COMPANY EMPHASIZES THAT THESE PRELIMINARY DATA ARE UNAUDITED AND FINAL FINANCIAL RESULTS MAY REQUIRE FURTHER ADJUSTMENT. DETAILED FINANCIAL STATEMENTS WILL BE PUBLISHED IN MARCH 2024.