Year Old Department Store: Net Profit In 2018 Will Increase By 135%~155%
The year old treasure Holdings Limited announced the unaudited management accounts of the group for the year ended December 31, 2018.
The group's net profit for the year ended December 31, 2018 will increase by 135% to 155% compared with the net profit in 2017.
The increase in net profit is mainly based on the following factors: first, in December 2018, the group entered into a share purchase agreement with Fuyuan International Group Limited, which acquired 19% of the common stock at HK $0.225 per share, resulting in a fair value gain of about 190 million yuan.
Second, according to the strategic cooperation framework agreement set up in June 15, 2018 with the box office network technology Co., Ltd., the revenue reduction and scheduled one-time expenditure / compensation increase for the department store shops selected by the group.
Third, Hao Jianmin was appointed co chairman and executive director. The fair value of the 250000 shares of the group was paid to Hao Jianmin's shares and included in the profit and loss account of the group.
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