Gelonghui, April 24, 丨 Guowei Holdings (02239.HK) announced that for the year ended December 31, 2023, the Group's revenue was US$22.5 million, down about 23.6% from 2022. The loss for the year ended December 31, 2023 was USD 14.2 million, while profit of USD 57.1 million was recorded for the year ended December 31, 2022. The owners of the company should have lost $0.043 per share.
The decline in earnings was mainly due to reduced revenue from integrated circuit solutions. The gross margin was 37.3% (2022:41.3%), mainly due to the decline in the gross margin of the integrated circuit solutions business. The loss for the year ended December 31, 2023 was mainly due to the lack of a one-time income of about US$86 million after the sale of investments by the two major subsidiaries completed in the year ended December 31, 2022, and an increase in the Group's share of the invested company's losses due to the continued investment of the invested companies in research and development activities.