Ruixin International Group (00724) announced that it expects the group to lose around HK$72 million in 2023, while 2...
According to the Zhitong Finance App, Ruixin International Group (00724) announced that it expects the group to lose around HK$72 million in 2023 and around HK$58.2 million in 2022.
According to the announcement, the increase in loss estimates is mainly due (among others) to an increase in operating losses and an increase in interest accrued expenses. The increase in operating losses was mainly due to a decrease in revenue, mainly due to the rapid development of the industry and the weakness of the world economic environment, which led to the loss of orders due to the failure of the Group's products to meet the new specifications of such customers; mainly due to inventory impairment confirmed during the reporting period, which led to a shift from gross profit to gross loss; and one-time expenses incurred in management expenses to prevent disclosure of the Group's expertise to competitors.