The Zhitong Finance app learned that Yaoxing Technology Group (08446) rose more than 6%. As of press release, it had risen 6.59% to HK$0.97, with a turnover of HK$8.01 million.
According to news, Yaoxing Technology Group recently announced its results for the first three quarters of 2023, with revenue of HK$62.496 million, up 142.6% year on year; loss of HK$7.882 million during the period, up 80.4% year on year; loss attributable to company owners of HK$4.242,000, a year-on-year decrease of 14.44%; and loss of 0.53 HK cents per share.
According to the announcement, the loss was mainly due to earnings within nine months not being able to cover relatively high service costs and administrative expenses (including high equipment depreciation costs).
In addition, Yaoxing Technology Group previously announced that on September 28, 2023, the company signed a memorandum of understanding with Aga Management Limited. According to this, Aga Management (as Aga Trust's investment holding company) plans to acquire shares of the company accounting for more than 5% of the company's issued share capital. The directors believe that the proposed investment (if implemented) is a good opportunity to introduce Aga Trust as a shareholder, which will bring about a new vision, thereby diversifying and expanding the company's shareholder base.