Bard International Limited announced its annual results for the year ended 31 December 2023, showing a significant decline in the audited consolidated results of the company and its subsidiaries. Revenue in 2023 was HK$422,492 thousand, a significant decrease from HK$726,536 thousand in 2022. The year-over-year loss widened to HK$202,150 thousand, an increase from HK$14,261 thousand in the previous year. Basic and diluted loss per share was HK$5.09 cents. The company is under liquidity pressure, defaulting on two interest-rate bank loans that require immediate repayment, one of which has filed a lawsuit. Management has developed a number of measures to improve the financial situation, including consultations with banks to defer repayment of loans, obtain additional funds from major shareholders and accelerate the...Show More

Bard International Limited announced its annual results for the year ended 31 December 2023, showing a significant decline in the audited consolidated results of the company and its subsidiaries. Revenue in 2023 was HK$422,492 thousand, a significant decrease from HK$726,536 thousand in 2022. The year-over-year loss widened to HK$202,150 thousand, an increase from HK$14,261 thousand in the previous year. Basic and diluted loss per share was HK$5.09 cents. The company is under liquidity pressure, defaulting on two interest-rate bank loans that require immediate repayment, one of which has filed a lawsuit. Management has developed a number of measures to improve the financial situation, including consultations with banks to defer repayment of loans, obtain additional funds from major shareholders and accelerate the recovery of customer payments. The Board of Directors considers that, in view of the above plans and measures, the Group will have sufficient working capital to fund its operations and meet its financial obligations due in the foreseeable future. However, as management has not yet reached any written contractual agreement with the bank, there are significant uncertainties about continuing operations. The company will continue to closely monitor market conditions, make flexible decisions and actively manage risk.