[Profit Warning] Sing Tao expected to lose 22% of executive directors and executives ’salary by 25% last year

Financial news

Written by: Jiajun Qu

2020-02-21 17:15

Sing Tao (1105) issued a profit warning, expecting a loss of about 22 million yuan last year, mainly due to the economic slowdown caused by the fierce protests in the second half of last year and the political uncertainty in the global region, which led to a reduction in newspaper advertising revenue and a number of non-recurrent expenditure items. To.

According to Sing Tao, in view of the current harsh business environment, a series of measures will be implemented to reduce costs, including reductions in employees' salaries to varying degrees, in which executive directors and senior management will reduce their salaries by 25%.

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