Ninestar’s $1.3 Billion Asset Impairment Drives Gigantic Net Losses for Q4 and FY 2023


On April 27, Ninestar Corporation unveiled its fiscal-year 2023 financial report, marking a significant downturn in its performance. While the company experienced only a single-digit decline in revenue year-over-year, the announcement revealed staggering net losses for both Q4 and FY 2023. Those losses were largely attributed to a hefty CNY 9.383 billion (*U.S. $1.3 billion)

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