On November 22, Gelonghui Group (01633.HK) announced its interim results. For the six months ended September 30, 2023, the Group's total revenue was approximately HK$183 million, up 22.0% year on year. The increase in earnings was mainly due to the Group undertaking more foundation works during the period. The Group recorded net profit of approximately HK$5.189,000 (net for the six months ended September 30, 2022: approximately HK$6.287,000).
As of September 30, 2023, the Group had 10 projects at hand, with a total contract value of approximately HK$566 million. Seven of these projects are expected to be completed in the next financial year. At the end of this period, the Group was awarded four foundation projects with a contract value of approximately HK$94.727 million.