[ET Net News Agency, 8 February 2022] Global Sweeteners Holdings Limited (03889) said
the group may record a net loss of approximately HK$97.7 million for the year ended 31
December 2021, as compared with the net loss of approximately HK$8.7 million for the year
ended 31 December 2020.
The significant increase in net loss was mainly due to the decrease in other income
recorded for the year as compared with the year ended 31 December 2020. During the year,
the group has recorded a one-off gain on debt restructuring of approximately HK$128.3
million (Gain on Debt Restructuring) as a result of the completion of the debt repurchase
agreement dated 26 March 2021 entered into between Changchun Dihao Foodstuff Development
Co., Ltd. (Dihao Foodstuff), a wholly-owned subsidiary of the company, and Changchun
Rudder Investment Group Co., Ltd. In contrast, the group recorded a one-off gain from the
resumption of properties owned by Dihao Foodstuff of approximately HK$289.4 million (Gain
on Resumption of Properties) for the year ended 31 December 2020. Without taking into
account the Gain on Debt Restructuring and the Gain on Resumption of Properties, the
unaudited net loss for the year was approximately HK$226.0 million and audited net loss
for the year ended 31 December 2020 was approximately HK$298.1 million. (RC)