Zitong Financial App News, Fuhui International Group Holdings (01034) announced results for the first half of 2023, the company realized earnings decreased by 84.9% to HK $24.1 million, with a loss of HK $34.6 million, compared with a profit of HK $13.1 million and a loss of HK2.16 cents per share in the same period last year.
According to the announcement, the decrease in revenue was mainly due to: for the civil engineering, building and other engineering divisions, no new construction projects were granted to the Group during the reporting period, while the Group had only one existing project on hand. And in the case of the Entertainment Education Business Division, during the reporting period, as the mainland of China tightened its policy on education and training business since 2022, the Group no longer offered new courses, therefore, no new customers joined the education and training courses offered by the Group in mainland China.