Yuxing Technology (08005) announced the results for the nine months ended September 30, 2023, with revenue of 78.612 million...
According to the Zhitong Finance App, Yuxing Technology (08005) released results for the nine months ended September 30, 2023, with revenue of HK$78.612 million, a year-on-year decrease of 38.1%; loss attributable to company owners of HK$24.08 million, a year-on-year decrease of HK$24.08 million, a year-on-year decrease of 81.6%; and a basic loss of HK$0.97 per share.
During the period, the Group obtained revenue from the information appliances business of approximately HK$52.4 million, a decrease of 54.8% over the same period of the previous financial year. The division's losses during the period narrowed by 52.2% to approximately HK$5.5 million due to reduced expenditure and tightened cost budgets. Despite a sharp decline in revenue, gross profit remained at the same period of the previous fiscal year as raw material costs were strictly controlled. Affected by the cautious atmosphere caused by the recession, customers postponed the distribution of their sales orders until the end of the year, and the segment's performance is expected to resume before the end of the year.