Huabao International (HKG:0336) expects a pre-tax loss of between 305 million yuan and 455 million yuan for the year 2024, compared with a pre-tax profit of 416 million a year prior, a Jan. 24 bourse filing said.

The food flavor manufacturer attributed the anticipated loss mainly to an impairment loss on goodwill of the tobacco flavor assets and other goodwill and assets, share-based employee expenses of subsidiaries, and fair value changes.