The Kappa and Phenix brand owner’s bottom line swung to an RMB 158,040,000 ($22.0 mm) loss from a profit of RMB 207,000,000 for the fiscal year ended Mar. 31, on 2% higher revenues of RMB 1,715,326,000 ($238.6 mm) from RMB 1,680,135,000. The loss was primarily from an RMB 181.7 million non-cash impairment charge on loans to existing and former management personnel due to the reduced value of the company shares that collateralize the loans. Total impairments for the year grew more than sixfold to RMB 344.6 million, and a 38% drop ... Log in to view full article.