Yaoxing Technology Group (08446) issued an announcement. The Group expects 12 for the year ending December 31, 2023...
According to the Zhitong Finance App, Yaoxing Technology Group (08446) announced that the Group expects to achieve a comprehensive net loss of about HK$27.8 million for the 12 months ended 31 December 2023, and a net profit of about HK$7.5 million for the seven months ended 31 December 2022 (2022 reporting period).
According to reports, the anticipated comprehensive loss for this year is due to a decrease in operating profit due to a decrease in revenue from IT consulting services provided by the Group to customers; an increase in service costs; a significant increase in administrative expenses for managing different business segments and hotel reservation and conference planning services since March 2023, and a longer accounting period for this year compared to the 2022 reporting period; and no revenue from the acquisition of the company's subsidiaries in the current year, but there was a one-time income from purchases at low prices during the 2022 reporting period.