Gelonghui March 21, Future Development Holdings (01259.HK) announcementThe company's management expects the group's after-tax net loss for the year ended December 31, 2021 to rise. The company estimates that the Group's net loss after tax for the year ended 31 December 2021 will be between approximately 83 million and 89 million yuan, while the Group will record a net loss after tax of approximately 37.9 million yuan for the year ended 31 December 2020.

Based on the information currently available to the board of directors, the loss in the Group's performance is mainly due to (I) increased market competition in the anti-epidemic products and personal care products industry, resulting in a decrease in revenue from the personal care products division; (ii) higher manufacturing costs but cost increments cannot be effectively transferred to customers, resulting in lower gross profit margins of the personal care products division. And (iii) the securities investment business suffered losses due to fluctuations in the global securities market.