Evergrande Health Industry loss deepens to 4.9b yuan

Evergrande Health Industry (0708) net losses last year deepened by 2.5 times from a year ago to 4.95 billion yuan (HK$5.41 billion), with expanding investments in the development of new energy vehicles.

Loss per share were 51.23 fen last year, and company did not declare a dividend.

Revenue grew by 79.9 percent year-on-year to 5.64 billion yuan last year, with revenue from the health care management business rising by 58.8 percent to 4.98 billion yuan.

Administrative expenses increased by 8.42 times to 3.16 billion last year as the business scale of the company expanded, in particular the rapid development of the new energy automotive business, there was a relatively large increase in research and development expenses, salary expenses and other administrative expense, said the company.