Honghao International Holdings (08375) announced its 2023 results, with revenue of approximately HK$84.3 million, a year-on-year decrease of 2...
According to the Zhitong Finance App, Honghao International Holdings (08375) announced its 2023 results, with earnings of about HK$84.3 million, a year-on-year decrease of 2.4%; net loss of HK$12.188 million, a year-on-year narrowing of 34.28%; basic loss per share was approximately HK4.23 cents, with no dividend.
According to the announcement, the decline in earnings was mainly due to lackluster demand for traditional electronic components, combined with oversupply, leading to fierce price competition. The group adopted a more aggressive pricing approach to maintain its market share.
The decrease in losses was mainly due to a reduction of approximately HK$3.6 million and HK$3.1 million in other income and losses and administrative expenses during the period compared to the corresponding year of 2022, respectively.