On March 1, GLONGHUI | Taisheng Group (00687.HK) announced that the Group expects to record a loss of no more than HK$15 million for the year ended December 31, 2023 compared to the previous year's profit of about HK$4.5 million.
The Group's anticipated loss for the year was mainly due to the need to allocate additional resources to deal with unforeseen land conditions and construction site restrictions in a project, leading to an increase in overall project costs.