Well being complement provider Herbs Era (2593) has issued a revenue warning lower than three months after its extremely anticipated Hong Kong itemizing, blaming itemizing bills as a main cause for the decrease revenue.
The corporate, co-founded by native actor Roger Kwok Chun-on and his sister Gammy Kwok Chi-yan, expects its 2024 revenue to vary between HK$11 million and HK$13 million, a drop of as much as 72 % from the HK$39.5 million revenue a 12 months earlier.
It cited itemizing bills of round HK$19 million in December final 12 months as a key issue, noting the price accounted for over 10 % of the HK$125 million raised in its preliminary public providing.
Different causes embrace increased depreciation bills because of newly opened self-operated shops, in addition to a decline in wholesale gross sales, which weighed on whole income and gross revenue, it mentioned.
Herbs Era’s retail tranche was 6,083 occasions oversubscribed, the very best on file after Most Kwai Chung’s (1716) which was 6,288 occasions oversubscribed in 2018.
Its shares fell 1.6 % to HK$1.85, yesterday following the warning and are actually down 51 % since its debut.
Employees reporter
