Zhitong Financial APP News, Huaxin Holdings (01657) announced its results for the year ended April 30, 2023, with an income of HK $149 million, down 11.6% from a year earlier; a net loss of HK $16.427 million, a profit of HK $491000 in the same period last year; and a basic loss of HK $0.513 per share.
The loss during the period was mainly due to a decrease in income and a decrease in purchase orders from major customers headquartered in the United Kingdom, the net unrealised loss on financial assets at fair value included in profit or loss and the impairment loss recognised in property, plant and equipment and investment property for the year.