According to the Zhitong Finance App, Hengyi Holdings (01894) announced results for the year ended March 31, 2023. The group achieved revenue of HK$185 million, a decrease of 9.18% over the previous year; the company owners should have lost HK$21.777 million, compared with a profit of HK$19678 million for the same period last year; loss of HK$2.8 cents per share.
According to the announcement, the decline in earnings was due to delays in implementing the model layer design for already undertaken projects, which led to a reduction in project volume in the second half of the year.