Sinopharm Tech Holdings Limited provided group earnings guidance for the nine months ended 31 March 2023. The Group expects to record a profit attributable to equity holders of the Company of not less than HKD 9.0 million for the nine months ended 31 March 2023, as compared with a loss attributable to equity holders of the Company of approximately HKD 23.4 million for the corresponding period in 2022. The Board believes such
turnaround from loss to profit is mainly attributable to, among other things, (i) strengthened cost control on administrative and operating expenses; (ii) compensation income from sales of locked-up consideration shares amounted to approximately HKD 16.5 million which was recorded as other income; and (iii) gain on settlement of amount due to an ex-Director amounted to approximately HKD 12.6 million which was recorded as other income.