According to the Zhitong Finance App, Huayi Financial Holdings (08123) announced that the group expects to lose about HK$13.6 million in the first half of 2023, compared to HK$13.5 million in the same period in 2022.
The Board noted that although the Group earned about HK$83.4 million in revenue during the reporting period and HK$58.4 million for the corresponding period in 2022, the increase in turnover was mainly due to the increase in automobile sales and agency services operating in China. Since the selling price of existing inventory continued to decline during the reporting period, resulting in low profit margins, which almost offset the benefits brought about by increased revenue in the face of rising indirect costs and high financial costs, there was no improvement in the profit of this business segment.