On December 3, Gelonghui Group (01802.HK) announced that the Group's revenue decreased from about RMB 238.0 million in the first half of 2022 to about RMB 175.6 million in the first half of 2022 to about RMB 62.4 million in the first half of 2023, mainly due to the impact of the national macro-control policy on China's real estate industry in the first half of 2023.
The gross margin rose to 7% in the first half of 2023, mainly due to the generally high gross margin of projects launched in 2023. The Group's losses during the period decreased from approximately RMB 95.6 million in the first half of 2022 to approximately RMB 4.7 million in the first half of 2023, mainly due to a sharp decline in the Group's earnings.