Gelonghui, March 15, 丨 Xinrui Pharmaceuticals (06108.HK) announced that the company expects to record a net loss of no more than HK$30.0 million for the year ended December 31, 2023. In the previous year, the Group recorded a net loss of approximately HK$77.9 million.

The sharp reduction in expected losses for fiscal year 2023 is mainly due to (i) no recording of equity settlement expenses on a share-based basis. The relevant expenses for FY2022 were approximately HK$10.4 million, as confirmed by the Group granting share options to directors and employees in FY2022, and the Group did not record relevant expenses in FY2023; and (ii) confirmed an inventory impairment loss of approximately HK$1.6 million due to slow inventory nearing maturity, while the 2022 fiscal year was an inventory impairment loss of approximately HK$42.4 million.