Gelonghui, December 29, 丨 Riying Holdings (01741.HK) announced that in its annual results for the year ended September 30, 2023, revenue increased by about 104.8% year-on-year to approximately HK$226 million. The loss attributable to the owners of the company was approximately HK$136 million, while the loss for the year ended September 30, 2023 was approximately HK$1.8 million. Basic and diluted losses per share for the year ended September 30, 2022 were approximately HK$0.22 and HK16.97 cents, respectively. The Board does not recommend payment of any final dividend for the year ended September 30, 2023.
The directors believe that the overall prospects for the construction industry and business environment where the Group operates will remain grim. Although the economy has improved in the post-pandemic era, the pace of recovery is still slower than expected. Differences between countries continued to grow, and conflicts broke out in many regions. Furthermore, policies implemented by central banks in various countries to deal with inflation have led to higher borrowing costs and limited economic activity, thereby inhibiting economic recovery. Due to the uncertainty of the business environment, the Group will continue to strive to adopt prudent financial management and cost control measures to address the challenges of current market conditions.
Furthermore, the Group will continue to obtain additional licences and enhance its financial resources to prepare for bidding on suitable public sector projects as a general contractor, enhance its human resources and invest in new information systems to enhance its operational capacity and efficiency. As far as the Group's health management and consulting business is concerned, the Group is committed to seizing growth opportunities to meet market demand brought about by the pandemic and increased health awareness in China. At the same time, the Group will continue to explore suitable business and investment opportunities to drive business growth.