Core Viewpoint - Helen's Group (海伦司) anticipates a significant decline in revenue and a net loss for the fiscal year 2024, primarily due to a weak consumer market and adjustments in its business strategy [1][2]. Revenue Summary - The company expects its revenue for the fiscal year ending December 31, 2024, to be between approximately RMB 730 million and RMB 780 million, compared to approximately RMB 1.21 billion in 2023, indicating a substantial decrease [1]. - The decline in revenue is attributed to a sluggish consumer market and the strategic shift towards platform transformation, which has led to a decrease in direct business income while franchise business income has increased [1]. Profit Summary - The adjusted net profit for 2024 is projected to be between approximately RMB 100 million and RMB 120 million, down from approximately RMB 291 million in 2023 [1]. - The company anticipates a net loss attributable to shareholders for 2024 in the range of approximately RMB 60 million to RMB 90 million, compared to a profit of approximately RMB 180.5 million in 2023 [2]. Asset Impairment and Losses - The expected net loss is primarily due to a decline in the fair value of office properties, resulting in an asset impairment loss estimated between RMB 50 million and RMB 70 million [2]. - Additional losses are anticipated from the optimization and adjustment of the tavern network, as well as operational performance declines, totaling between RMB 80 million and RMB 120 million [2]. - The company will incur listing expenses of approximately RMB 13.3 million related to its secondary listing in Singapore [2]. Financial Reporting Clarification - The board emphasizes that the term "adjusted net profit/(loss)" is not defined under Hong Kong Financial Reporting Standards and is calculated by adding back asset impairment losses and other non-operational expenses [3]. - Management believes that presenting this non-Hong Kong Financial Reporting Standards measure alongside the corresponding Hong Kong Financial Reporting Standards measure provides useful information for investors and management [3].