Gelonghui July 24th 丨Haoliang Global (08118.HK) announced that it expects the Group to record a net loss of no more than HK$75 million for the year ending April 30, 2023, while recording a net profit of around HK$5.7 million for the year ended April 30, 2022.
The Board of Directors believes that the decline in the Group's performance over last year is mainly due to (i) the continued adverse impact of the novel coronavirus outbreak on the economy, leading to a decline in earnings and gross profit; (ii) loss reduction in inventory loss; and (iii) anticipated increase in credit loss provisions.