Global Sweet (03889) announced that the group is expected to achieve a net profit (excluding tax effects) ranging from HKD 130 million to HKD 170 million for the six months ending on June 30, 2024, compared with a net loss of approximately HKD 103 million for the period ending on June 30, 2023. The improvement is mainly due to the debt restructuring agreement concluded with China Cinda Asset Management Co., Ltd. Jilin Branch (as the creditor), Jinzhou Yuancheng Biochemical Technology Co., Ltd. (as the debtor), and Shanghai Haocheng Food Development Co., Ltd. (as the guarantor) (all of which are indirectly wholly-owned subsidiaries of the company), which confirmed one-time income of not less than approximately HKD 130 million. According to the debt restructuring agreement, the group has repaid all loan amounts of approximately RMB 189 million plus unpaid interest by repaying discounted funds of approximately RMB 88 million to Jilin Cinda during the period.

The announcement stated that the improvement was mainly due to the completion of the debt restructuring agreement concluded with China Cinda Asset Management Co., Ltd. Jilin Branch (as the creditor), Jinzhou Yuancheng Biochemical Technology Co., Ltd. (as the debtor), and Shanghai Haocheng Food Development Co., Ltd. (as the guarantor) (all of which are indirectly wholly-owned subsidiaries of the company), confirming a one-time income of not less than approximately HKD 130 million. According to the debt restructuring agreement, the group has repaid all loan amounts of approximately RMB 189 million plus unpaid interest by repaying discounted funds of approximately RMB 88 million to Jilin Cinda during the period.