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00628 GOME FIN TECH
RTNominal down0.244 -0.006 (-2.400%)
Others

10/01/2020 12:08

Gome Fin Tech (00628) sees year net turn to red

[ET Net News Agency, 10 January 2020] Gome Finance Technology Co., Ltd. (00628) said
the group expects to record a loss attributable to the owners of the company of not less
than RMB29 million for the year ended 31 December 2019 as compared with a profit of
approximately RMB1.44 million attributable to the owners of the company for the year ended
31 December 2018.
It is principally attributable to (i) the group expects to recognize provision for
impairment loss on the group's loans and other receivables of not less than RMB31 million
for the year, which amount was at least approximately RMB17 million larger than that
recognized for the corresponding period; (ii) the group expects to recognize provision for
impairment loss on the group's other intangible assets of approximately RMB11 million for
the year; and (iii) the group expects to record an exchange loss of approximately RMB5
million for the year due to depreciation of United States dollars against Hong Kong
dollars, while an exchange gain of approximately RMB3,816,000 was recorded in the
corresponding period. (RC)

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