Gaofeng Group Holdings (02863) issued an announcement. The group expects to acquire the company for the year ending September 30, 2023...
According to the Zhitong Finance App, Gaofeng Group Holdings (02863) issued an announcement. The Group expects to obtain losses attributable to the company's equity holders of approximately HK$20 million to HK$25 million for the year ending September 30, 2023. The Group obtained a profit of approximately HK$12 million attributable to the company's equity holders in the same period last year.
This year's losses were mainly due to the COVID-19 pandemic, which led to an extension of the construction period of promised projects and an increase in operating costs, which in turn led to a decrease in gross profit; a reduction in government subsidies for the “employment protection” program provided by the Hong Kong government this year; and a one-time loss due to the sale of subsidiaries announced by the company on February 24, 2023.