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LE SAUNDA: Announcement of Interim Results for the six months ended 31 August 2024
Le Saunda Holdings Reveals Board Structure
Le Saunda Expects Wider Attributable Loss in Fiscal H1
Le Saunda Holdings Announces Executive Resignation
Le Saunda (00738): Liao Zhiyin resigned as executive director.
Le Saunda (00738) announced that Liao Zhiyan has resigned as an executive of the company due to her intention to engage in other personal affairs.
Le Saunda (00738.HK) is expected to incur a mid-term loss of 38 million to 45 million yuan.
Le Saunda (00738.HK) announced on September 9 that the board of directors expects that the company's shareholders' comprehensive loss for the current period will be RMB 38,000,000 to RMB 45,000,000, compared to a loss of RMB 13,900,000 for the same period last year. The expected increase in comprehensive loss is mainly due to (a) the continued sluggish retail market in mainland China, which has led to a significant decrease in total retail sales for the group; (b) giving a higher retail discount to clear slow-moving inventory, resulting in a decrease in gross margin; and (c) the closure of inefficient stores.
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