LE SAUNDA (00738) is expected to have a comprehensive loss attributable to shareholders of 93 million to 115 million yuan for the year.

Le Saunda (00738) announced that the board of directors expects the company's attributable comprehensive loss to shareholders for the year ending February 28, 2025 (2024/25 fiscal year) to be between RMB 93 million and RMB 115 million, compared to the RMB 23.5 million in the same period last year. The expected increase in comprehensive loss is mainly due to the continued sluggish retail market in mainland China, which has led to a significant overall decline in the group's retail business sales; offering high sales discounts to retail and wholesale customers to clear slow-moving inventory, resulting in a significant decrease in gross profit margin; and incurring one-time employee compensation costs due to the closure of inefficient physical retail stores and optimization of logistics and administrative personnel.