Tong Ren Tang Technology (01666) expects net profit to return to mother to increase by -3% to 7% year-on-year in 2023

Zhitong Finance App News, Tong Ren Tang Technology (01666) announced that the directors expect the group's net profit attributable to the company's owners in 2023 to fall by about 3% to increase by about 7% compared to the same period last year.

According to the announcement, the Group's performance for the current period was mainly affected by the following factors: the company's subsidiary, Beijing Tongrentang Sinopharm Co., Ltd. (03613)) and its subsidiaries, their 2023 after-tax profit fell 18% to 22% compared to the same period of the previous year, thus reducing the Group's profit growth compared to the same period last year; and unconventional fluctuations in the prices of some raw materials in 2023.