According to the Zhitong Finance App, Wanma Holdings (06928) announced the results for the year ended December 31, 2023. The group's revenue was 9.071 million Singapore dollars, a year-on-year decrease of 44.5%; gross profit of SGD 420,000, a decrease of 54.6%; and a net loss of 10.582 million Singapore dollars, an increase of 465.9% over the previous year.
According to the announcement, the decrease in revenue was due to a decrease of approximately 49.0% in auto parts and vehicle sales.