Gelonghui August 28?02320.HK announced that in the six months ended June 30, 2023, its income was HK $106 million, down 56.1% from a year earlier. The company's owners' share of the loss was HK $59.065 million, compared with a loss of HK $83.149 million for the same period last year.
In the first half of 2023, earnings fell by 56.1%, due to a decline in customer demand, resulting in a decline in average selling prices and sales. The decline in the cost of sales is consistent with the decline in revenue. The gross loss changed from HK $24.1 million to HK $4.3 million. The gross margin changed from-10.0% to 4.1%, due to lower recurrent expenditure.