For the six months ended 30 September 2024, Jianhong Group Holdings Limited had revenues of approximately HK$75,068,000, down 0.6% from the same period last year. Gross loss decreased significantly to approximately HK$10,914,000 from approximately HK$51,192,000 in the same period last year, and gross loss decreased from 67.8% to 14.5%. However, the Group recorded a net loss of approximately HK$44,388,000, an increase from approximately HK$23,524,000 in the same period last year.Management noted that the decrease in revenue was mainly due to the reduction in works completed after the completion of some large projects. The Group's other income fell sharply, mainly due to the confirmation of compensation income from former holding companies in the same period last year. Administrative and other operating expenses increased by...Show More

For the six months ended 30 September 2024, Jianhong Group Holdings Limited had revenues of approximately HK$75,068,000, down 0.6% from the same period last year. Gross loss decreased significantly to approximately HK$10,914,000 from approximately HK$51,192,000 in the same period last year, and gross loss decreased from 67.8% to 14.5%. However, the Group recorded a net loss of approximately HK$44,388,000, an increase from approximately HK$23,524,000 in the same period last year.Management noted that the decrease in revenue was mainly due to the reduction in works completed after the completion of some large projects. The Group's other income fell sharply, mainly due to the confirmation of compensation income from former holding companies in the same period last year. Administrative and other operating expenses increased by 16.3%, mainly due to increases in administrative employee benefits and legal and professional fees. During this period, the Group confirmed a valuation allowance of approximately HK$3,050,000 for property, machinery and equipment.Looking ahead, the Group faces challenges in Hong Kong's construction industry, including labour shortages and rising interest rates. The Group plans to strengthen liquidity by reducing capital expenditure and actively recovering receivables. In addition, the Group has made progress in expanding its construction business in China and plans to enter the environmental sector. The Board is cautiously optimistic about the long-term prospects of the Hong Kong infrastructure sector and will continue to cautiously pursue its core business and development plans.