Lifestyle China (2136) expects a net profit of no less than 200 million yuan (HK$240 million) in 2020. That compared with a net loss of 83.5 million yuan for the year ended December 2019. The expected profit would represent a drop of no more than 50 percent compared with 2019 and the expected drop in profit was mainly due to fall in sales coupled with lower profit margin and absence in 2020 of a refund of withholding tax of 40.2 million yuan recorded in 2019. The full-year result is expected to be release on March 23.

Source: The Standard March 10, 2021 06:56 UTC