Yu Rong Group (01536) issued an announcement that the Group expects to achieve in the six months ending September 30, 2023...
According to the Zhitong Finance App, Yu Rong Group (01536) announced that the Group expects to achieve a comprehensive net loss of about HK$6.8 million to HK$7.1 million in the six months ended September 30, 2023, while the consolidated net profit for the six months ended September 30, 2022 is approximately HK$3 million.
According to the announcement, the change in profit to loss was mainly due to a decrease in business activities in Hong Kong for the six months ended September 30, 2023. Compared with the six months ended September 30, 2022, construction activities and the number of constructible projects were at a relatively low level, resulting in lower demand for our products than expected, along with the one-time impact of tax credits for the six months ended September 30, 2022 due to excessive tax provisions in Hong Kong in previous years.