On March 22, GLONGHUI (00110.HK) announced that the Group expects to record a net loss of approximately HK$12 million to HK$16 million for the year ended December 31, 2023, and a net loss of approximately HK$20.4 million for the year ended 31 December 2022.
According to currently available information, the expected loss reduction is mainly due to (i) the proceeds from the sale of a subsidiary for the year ended 31 December 2023, compared to the loss from the sale of a subsidiary last year; and (ii) the reduction in administrative expenses for the year ended 31 December 2023 compared to last year.