According to the Zhitong Finance App, Yefeng Group (01695) announced that compared to the loss before tax of about 3.41 million yuan in 2021, the group expects to reduce losses after tax by no less than 70% in 2022.

According to the announcement, the narrowing of losses was mainly due to the Group's adoption of various cost control measures to improve gross margin by about 30%, and other revenue from the Group's machine fire insurance at the Thunderbolt, Malaysian factory that covered RM3.39 million.