Ruisen Life Service (1922) Revises Prior Financial Statements and Issues Updated Profit Warning

Bulletin Express11-17

Ruisen Life Service Co, Limited (Stock Code: 1922) announced the identification of misstatements in its previously issued consolidated financial statements for the six months ended 30 June 2023 and for the years ended 31 December 2022 and 2023. These findings, based on investigations by an independent forensic accountant, led to adjustments in the relevant reporting periods, resulting in revised figures.

According to the new assessment, the Group is expected to record a loss attributable to owners of not more than RMB20 million for the six months ended 30 June 2024, an improvement from the earlier expectation of a loss of not less than RMB90 million. The restated profit for the six months ended 30 June 2023 now ranges from RMB30 million to RMB50 million, down from the previously reported RMB63.8 million.

For the year ended 31 December 2024, the Group currently anticipates a loss between RMB20 million and RMB40 million, compared with the restated profit of RMB80 million to RMB100 million for the year ended 31 December 2023. The previously reported profit for 2023 was RMB123.6 million. Management is still preparing the unaudited consolidated results, with a final announcement scheduled for 21 November 2025.

Trading in Ruisen Life Service Co, Limited’s shares has been suspended since 28 August 2024 and will remain so until further notice. The company will issue further updates in accordance with relevant listing rules as developments unfold.

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