Welife Technology (1703.HK) reports loss amid revenue decline

Welife Technology Limited (HKEX:1703) announced its annual results for the year ended March 31, 2025, reporting a revenue of HK$227.6 million, a 46% decrease compared to the previous year's HK$421.3 million. The company experienced a loss of HK$32.0 million, contrasting with a HK$28.8 million profit in 2024. Basic loss per share stood at HK2.8 cents, compared to basic earnings per share of HK2.5 cents the prior year. The board did not recommend a final dividend. The decline is attributed to shifting consumer preferences and decreased restaurant operations. Trading of the company's shares remains suspended on the Hong Kong Stock Exchange since November 2023. The auditor has issued a disclaimer of opinion, citing the inability to locate certain books and records from previous directors.