Liang Zhitian Design Group (02262) announced the results for the year ended December 31, 2023, and the group received...
According to the Zhitong Finance App, Leung Chi-tin Design Group (02262) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$356 million, a decrease of 6.61% year on year; loss due to the company's equity holders was HK$18.841 million, a decrease of 69.83% year on year; loss per share was 1.65 HK cents.
The company takes a proactive approach to these challenges. During the year, the Group implemented a series of cost reduction and efficiency measures, including optimizing staff staffing, adjusting performance evaluation standards for business development personnel, developing internal electronic platforms to improve overall efficiency, optimizing office space, and reviewing outsourced professional services. These measures are already beginning to bear fruit. The gross margin increased from 36.6% in the previous year to 39.2% this year. As a result of implementing personnel optimization measures, administrative and sales expenses have been significantly reduced. As a result, the Group's losses for the current year were significantly narrower by 66.6% compared to the previous year. Excluding the effects of trade receivables and impairment losses on contract assets, the Group even made a profit in 2023.