Tongyuan International (03830) announced that the group's earnings for the six months ended October 31, 2023...
According to the Zhitong Finance App, Tongyuan International (03830) announced that the Group's earnings for the 6 months ended October 31, 2023 increased by about 19% compared to the 6 months ended October 31, 2022. The Group also expects to obtain profits attributable to equity shareholders of approximately HK$4 million to HK$5 million in the six months ended October 31, 2023, compared to losses attributable to equity shareholders of approximately HK$36.2 million compared to the previous period.
The Group expects to make a profit during this period, mainly due to the following: revenue from the toy business and laboratory equipment business increased; there were no one-time severance payments due to changes in the toy business model as in the previous period; the toy business operations generated fewer fixed indirect costs after the changes were completed; and the reduction in staff costs and rental expenses.