According to the Zhitong Finance App, Ruixin International Group (00724) issued an announcement. The Group is expected to report an estimated loss of around HK$56 million for the year ending December 31, 2022, while the loss for the year ending December 31, 2021 was approximately HK$54.2 million.

The increase in estimated losses during the reporting period was mainly due to increased operating losses and a decrease in net proceeds from the sale of property, plant and equipment, partially offset by reduced estimated interest expenses and reduced impairment losses on property, plant and equipment and right-of-use assets. The increase in operating losses during the reporting period was mainly due to the reduction in the volume of orders for the Group's electronic components due to heightened global inflation concerns and the suspension of a number of purchase orders by some large consumer goods manufacturers due to increasing inventory on hand, which led to a decrease in revenue.