Gelonghui, January 26, 丨 Peng Shun International (06163.HK) announced that for the year ended October 31, 2023, the company's revenue decreased from about 27.47 million US dollars in the previous year to about 14.27 million US dollars this year. The reduction was due to a decrease in revenue from the sale of car bodies and kits and the sale of spare parts and related services.
The Group recorded a loss of approximately $2.79 million during the year (2022: $1.38 million). This year's losses were mainly due to (i) a decrease in sales of car bodies and kits and sales of spare parts and provision of related services compared to the previous year; and (ii) an increase in net impairment loss provisions for trade and other receivables.