On March 7, GLONGHUI | Dongying Tour (06882.HK) announced that the Group is expected to record a comprehensive net profit of approximately HK$71.7 million for the year ended 31 December 2023 (“FY2023”), while the net consolidated loss attributable to company owners in FY2022 is approximately HK$74.3 million.
The significant shift from loss to profit was mainly due to a significant increase in earnings in fiscal year 2023. This is due to the significant recovery of the tourism industry from the negative impact of the COVID-19 (“COVID-19”) pandemic, which has led to a sharp rebound in the Group's travel-related business and hotel business. According to information available to the Board of Directors, the Group's revenue for fiscal year 2023 was approximately HK$1,366 million, up approximately 595.2% from revenue of HK$196.5 million for fiscal year 2022.