NEWLINK TECH issues a profit warning, expecting an annual loss attributable to shareholders of approximately 90 million to 95 million yuan
NEWLINK TECH issued a profit warning, expecting an annual loss attributable to shareholders of approximately RMB 90 million to 95 million for the year ending December 31, 2024, an increase of RMB 20.8 million to 25.8 million compared to the loss of RMB 69.2 million for the same period in 2023. The main reasons include losses from changes in the fair value of equity investments, increased research and development expenses, increased amortization of intangible assets, and rising sales, administrative, and research and development expenses, partially offset by a decrease in net impairment losses on accounts receivable and contract assets
According to the Zhitong Finance APP, NEWLINK TECH (09600) announced that it expects the group to incur a loss attributable to the owners of the company of approximately RMB 90 million to approximately RMB 95 million for the year ending December 31, 2024. This is expected to be an increase in loss of approximately RMB 20.8 million to RMB 25.8 million compared to the loss attributable to the owners of the company of RMB 69.2 million for the year ending December 31, 2023. This is mainly due to (i) losses arising from fair value changes of equity investments measured at fair value through profit or loss; (ii) an increase in direct expenses related to research and development; (iii) an increase in amortization of intangible assets, leading to higher selling and distribution expenses, administrative expenses, and research and development expenses; and (iv) offset by a decrease in net impairment losses on accounts receivable and contract assets
