On March 18, GLONGHUI Co., Ltd. (01808.HK) announced that for the year ended December 31, 2023, the Group is expected to turn a loss into a profit compared to a net loss of about RMB 25 million for the same period last year, and that the net profit by 2023 will not exceed RMB 4 million.
According to the announcement, the expected performance improvement in 2023 is mainly due to the improvement in the Group's operating performance due to recovery from the negative impact of COVID-19, the increase in revenue to approximately RMB 60 million, and confirmation that the net income from the sale of financial assets included in profit and loss at fair value is approximately RMB 24 million.