Xinwei Engineering Group (08616) announced results for the first three quarters. Profit attributable to shareholders of HK$240,000 decreased by 92.07% year-on-year
According to the Zhitong Finance App, Xinwei Engineering Group (08616) announced results for the nine months ended December 31, 2023. The group achieved revenue of HK$127 million, a year-on-year decrease of 24.55%; profit attributable to the company owners was HK$240,000, a year-on-year decrease of 92.07%; and earnings per share were 0.02 HK cents. According to the announcement, the decline in revenue was mainly due to a decrease in revenue from providing building protection projects and supplying building protection products.
Zhitong FinanceFeb 8 23:54 ET
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Xinwei Engineering Group (08616) announced the results for the six months ended September 30, 2023. The group achieved profit...
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Xinwei Engineering Group (08616.HK) expects a net loss of about HK$2.3 million for the first quarter and a profit of HK$600,000 for the same period last year
On August 7, GLONGWI | Xinwei Engineering Group (08616.HK) announced that the Group expects to record a net loss of about HK$2.3 million in the three months ending June 30, 2023, while net profit for the three months ending June 30, 2022 is approximately HK$600,000. The Group's net profit decline was mainly due to the following combined effects: (i) reduced revenue from the supply of construction protection products; (ii) increased administrative expenses due to increased general staff costs; and (iii) the recent trend of soaring interest rates led to rising financial costs during the reporting period.
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