Gelonghui, March 22, 丨 China Energy Storage Technology Development (01143.HK) announced that the Group is expected to record a net profit of no more than HK$6 million for the year ended December 31, 2023, while the Group recorded a net loss of approximately HK$52 million in 2022.
The announcement stated that the anticipated increase in unaudited comprehensive net profit is mainly due to an increase in the Group's gross profit. The increase in gross profit came from the Electronics Manufacturing Services segment due to cost savings brought about by production automation and lower material costs due to supply chain recovery after the end of the Covid-19 crisis compared to 2022 and 2023.