TIANAN MEDICARE (00383) announces profit forecast, expected shareholders' net profit for 2024 is approximately 19.9 million Hong Kong dollars to 29.9 million Hong Kong dollars.

TIANAN MEDICARE (00383) announced that the group expects shareholders' attributable profit to be approximately HK$19.9 million to HK$29.9 million in 2024, compared to approximately HK$14.7 million in 2023. The increase in profit is mainly due to the increase in operating revenue of the medical division; a decrease in borrowing costs in the People's Republic of China; an increase in fair value losses on certain investment properties; an increase in foreign exchange losses; write-offs and provisions related to trade receivables associated with medical insurance settlements; and offset by losses related to the closure of the integrated outpatient clinic in Nanjing, China.