According to the Zhitong Finance App, Global Industrial Technology (01026) announced the results for the year ended December 31, 2023. Group revenue was HK$319 million, a year-on-year decrease of 8.6%; losses attributable to shareholders were HK$137 million, an increase of 31.97% over the previous year; and a loss of HK2.49 cents per share.
According to the announcement, the increase in losses was mainly due to asset impairment losses and a decrease in the fair value of investment properties due to unfavorable market prospects.