Huasheng Intl Holdings Limited has audited and approved the publication of the 2023/2024 annual report. The report shows that the company mainly engages in concrete business, and although China's real estate and infrastructure markets are declining, the concrete business revenue reached HKD 0.5478 billion, a decrease of 13.5% from last year. The company's annual loss decreased to HKD 31.4 million, compared to HKD 54.8 million last year. The comprehensive loss for the whole year was HKD 44.5 million. The company expects the concrete business to rebound under the government's policy support and the relaxation of housing loan restrictions. In addition, the company plans to reduce its lending business portfolio in a highly competitive and high-interest-rate environment. In terms of management, the...Show More

Huasheng Intl Holdings Limited has audited and approved the publication of the 2023/2024 annual report. The report shows that the company mainly engages in concrete business, and although China's real estate and infrastructure markets are declining, the concrete business revenue reached HKD 0.5478 billion, a decrease of 13.5% from last year. The company's annual loss decreased to HKD 31.4 million, compared to HKD 54.8 million last year. The comprehensive loss for the whole year was HKD 44.5 million. The company expects the concrete business to rebound under the government's policy support and the relaxation of housing loan restrictions. In addition, the company plans to reduce its lending business portfolio in a highly competitive and high-interest-rate environment. In terms of management, the company announced a number of senior management changes, including the appointment of Li Renjie as chairman of the board of directors on December 1, 2023. As of March 31, 2024, the company's issued share capital amounted to HKD 75.6 million, reserves amounted to HKD 0.8848 billion, and shareholders' equity amounted to HKD 0.9604 billion. The board of directors does not recommend the payment of year-end dividends, the same as last year. The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards. Looking to the future, the company expects to continue to face challenging economic conditions, adapt to market changes, explore new opportunities, and strengthen cost-saving measures. The development of Hainan Free Trade Port is expected to drive the infrastructure development of Hainan Province, which will benefit the company's concrete business.