Summary by Moomoo AI
GLOBAL STRATEGIC GROUP LIMITED (THE “COMPANY”) ANNOUNCES FINAL RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2023. The Company recorded revenue of approximately HK$166,077,000 in the fiscal year, an increase of approximately 21.9% over the previous year's HK$136,241,000. Gross profit also increased from HK$20,287,000 to HK$27,261,000. Profit for the year was HK$13,686,000, up from HK$10,681,000 last year. HOWEVER, THE COMPANY'S CURRENT LIABILITIES EXCEEDED HK$92,744,000 IN CURRENT ASSETS AND HK$3,926,000 IN OPERATING CASH OUTFLOWS DURING THE YEAR, ILLUSTRATING THE SIGNIFICANT UNCERTAINTY FACING THE COMPANY'S CONTINUING OPERATIONS. The Board of Directors has taken measures to improve the financial situation, including obtaining financial support from Mr. Wu Kwok Ming and Mr. Wang Wenzhou. The Company failed to pay any dividends for the year ended September 30, 2023. THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS HAVE BEEN AUDITED BY ROSHIN AMERICAN ACCOUNTANTS.