Meihao Medical Group (HKG:1947) expects a net loss of between 29.4 million yuan and 35.9 million yuan for the year 2024, wider than the 13.6 million loss a year prior, a Thursday filing with the Hong Kong bourse said.

The medical equipment manufacturer attributed the anticipated loss mainly to a significant decline in its sales price leading to a lower profit margin from implant dentistry services, intense competition, lower consumer spending, and higher staff costs.

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