Zhitong Financial APP News, Yixing Bank (01047) announced its results for the year ended June 30, 2023. The income from client contracts was HK $1.178 billion, down 32.3% from the same period last year. The company's shareholders had a loss of HK $52.007 million, compared with a profit of HK $56.598 million in the same period last year.
In view of the unclear economic situation and low market consumer sentiment, customers are prudent in placing orders and adopting a low inventory strategy, affecting the overall sales of the Group. The decline in the company's performance during the period was mainly due to the decline in turnover and the rise in financial costs.