Summary by Futu AI
EC Healthcare issued a profit warning, projecting a decline in financial performance for the annual period ending on March 31, 2024. Based on unaudited comprehensive management accounts, the company expects a decrease in profit before tax, depreciation and amortization of no more than 10% compared to the previous fiscal year's HKD 430 million, with net profit not exceeding HKD 25 million, compared to HKD 107 million in the same period of 2023. The board of directors stated that the decline in profit is mainly due to the increase in lending interest rates, lower operating leverage of newly established service points, increased depreciation and amortization expenses from the introduction of new internal expansion service points, inflationary pressures, as well as reduced subsidies from government employment programs. The company emphasized that these figures have not been audited and may be affected by other factors. EC Healthcare is expected to release detailed comprehensive performance results by June 27, 2024, or earlier.