Gelonghui November 29th 丨Xunhe Group (01591.HK) announced that for the six months ended September 30, 2022, the company's revenue was HK$128 million, an increase of 11.97% over the previous year; the profit attributable to the company's shareholders during the period was HK$16.259 million, an increase of 118.5.30% over the previous year; and the basic profit per share was HK0.406 cents.

The increase in net profit was mainly due to the collection of government subsidies of about HK$1.2 million through the “Employment Insurance Scheme”; and the net recovery of impairment losses on related financial assets and contract assets of about HK$13.5 million due to the recovery of a number of long-outstanding trade receivables that had been depreciated in previous financial years.