Brief: Wanka Online Sees Loss After Taxation Of Not Less Than RMB125.0 Mln For Year

Wanka Online

20/03/2023 12:34

March 20 (Reuters) - Wanka Online Inc  1762.HK :
    * SEES LOSS AFTER TAXATION OF NOT LESS THAN APPROXIMATELY
RMB125.0
MILLION FOR YEAR
    * SEES DECREASE IN OVERALL GROSS PROFIT AND GROSS PROFIT
MARGIN
FOR YEAR
    * EXPECTED RESULT DUE TO IMPAIRMENT LOSS ON GOODWILL OF
CASH-GENERATING UNIT OF ONLINE-VIDEO DISTRIBUTION SERVICES ,
AMONG OTHERS
    * BASED ON PRELIM REVIEW, GROUP FAILED TO SATISFY FINANCIAL
COVENANTS UNDER LOAN FACILITY WITH EAST WEST BANK (CHINA)
    * LOAN BREACH NOT RESULTED IN ANY TRIGGERING OF CROSS
DEFAULT
PROVISIONS UNDER OTHER LOAN AGREEMENTS ENTERED BY GROUP
    * AS AT MARCH 20, AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF
LOAN
FACILITY ABOUT RMB60.0 MILLION
    * AS AT 20 MARCH, AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF
LOAN
FACILITY RMB60.0 MILLION


Further company coverage:  1762.HK 

 ((Reuters.Briefs@thomsonreuters.com;))