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00197 HENG TAI
RTNominal down0.120 -0.007 (-5.512%)

17/09/2021 14:36

Heng Tai (00197) sees decrease in year revenue

[ET Net News Agency, 17 September 2021] Heng Tai Consumables Group Limited (00197) said
the consolidated financial results of the group for the year ended 30 June 2021 (the
2020/21 Annual Results) are expected to record a decrease in revenue of about 4% and a
decrease in gross profit of about 45%, but loss from operations also decreased by
approximately 20% as compared to the previous corresponding financial year.
The group's revenue has been adversely affected by the continuous weakening demand in
the PRC consumer market and continuous competition from other brands against the
consumable goods and agri-products which the group are trading coupled with the
unfavourable and ongoing adverse global trading environment and the disruptions caused by
the global COVID-19 pandemic in the first half of the financial year ended 30 June 2021.
Although there are signs of recovery in China's economy in the second half of the said
financial year, the group was still facing poor market sentiment and disruptions in
business segments which have been adversely affected by unfavourable factors similar to
the first half of the said financial year. (RC)

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