Gelonghui, April 3, 丨 Wenye Group (01802.HK) announced that the Group's revenue decreased from approximately RMB 378.1 million for the year ended December 31, 2022 to approximately RMB 81.3 million for the year ended December 31, 2023, a decrease of RMB 296.8 million. The decline was mainly due to a slowdown in China's domestic economic growth, a surge in defaults in China's real estate industry, corporate debt defaults, and broken capital chains for group customers.
The Group's loss during the year decreased from approximately RMB 193.6 million for the year ended 31 December 2022 to approximately RMB 63.5 million for the year ended 31 December 2023, a decrease of approximately 67.2%.
After the publication of this results announcement, the company applied for the resumption of trading on the Stock Exchange and resumed trading of shares on the Stock Exchange at 9:00 a.m. on April 5, 2024.