Gelonghui, Feb. 20, 丨 Junqiu Holdings (01481.HK) announced that the loss after tax recorded by the company for the year ended December 31, 2023 will be reduced to between HK$3 million and HK$5 million compared to the audited post-tax loss of HK$16.5 million for the year ended 31 December 2022.
In fiscal year 2023, the reduction in after-tax losses was mainly due to the increase in the Group's gross profit, mainly due to changes in sales strategy due to a focus on high-margin customer orders. In particular, profit margins for the second half of 2023 increased significantly compared to the same period in 2022, and were partially offset by increases in administrative expenses (such as employee costs and other taxes in China).