Jan 30, 2023 11:46 AM (GMT+8) · EqualOcean
Snack brand Three Squirrels (Chinese: 三只松鼠, SZ:300783) preannounced 2022 Earnings Reports on January 20, 2023. According to the preannouncement, net profit attributable to shareholders is expected to be somewhere between CNY 120 million (USD 17.76 million) and CNY 140 million for 2022, down 65.95% to 70.81% year-on-year. With non-recurring gains and losses excluded, the net profits stood between CNY 40 million and CNY 60 million, down 81.23% to 87.49% year-over-year. Three Squirrels stated that performance in Q4 2022 fell short of the company's own expectations because the production and delivery of its major products were affected by the first wave of COVID-19 infections after the relaxation of relevant restrictions.