Gelonghui, March 22 | Shuao International (02336.HK) announced that for the year ended December 31, 2023, the Group recorded revenue of HK$137 million, an increase of 12% over the same period in 2022; gross profit of HK$9.313 million, an increase of 14% over the same period in 2022. The Group recorded a loss of HK$127.66 million and other comprehensive income of HK$363,000, mainly including fair value earnings of HK$194,000 from investing in Zhejiang Energy Jinjiang Environmental Holdings Limited (“Zhejiang Jinjiang”) common stock (“Jinjiang Shares”) and exchange losses of HK$896,000 resulting from the conversion of overseas operations, resulting in a total overall expenditure of HK$12,403 million for the year ended 31 December 2023. The loss attributable to the owners of the company was HK$11.313 million (2022: HK$9.813 million); the basic loss per share was HK0.62 cents. Overall, the Group's overall revenue and gross profit improved compared to the same period in 2022.
As fluctuations in metal material prices have weakened and gradually declined, the impact of inflation and uncertain economic prospects on the metal sales business has been mitigated. Furthermore, under other overall earnings, the Group has confirmed that the reduction in exchange losses due to the conversion of overseas operations was mainly due to the slight depreciation of the RMB and Australian dollar against the Hong Kong dollar since the beginning of 2023.