On March 22, GLONGHUI | TEAMWAY INTL GP (01239.HK) announced that for the year ended December 31, 2023, the Group recorded revenue of approximately RMB 341 million, a year-on-year decrease of 11.5%; losses attributable to company owners were approximately RMB 68.295 million, while losses attributable to company owners in 2022 were approximately RMB 496.01 million, with basic and diluted losses per share respectively.
In 2023, the increase in losses was mainly due to the high production costs of the company outsourcing part of production to other factories before the newly purchased production facilities were ready to be put into production, leading to an increase in sales costs from the second quarter of 2023.