According to the Zhitong Finance App, Huankang Group (08169) released its first quarter results for the three months ending January 31, 2023. The group achieved revenue of HK$19.529 million during the period, a decrease of 26.73% over the previous year; the profit attributable to shareholders was HK$1,087 million, a decrease of 53.69% over the previous year; and the basic profit per share was HK0.17 cents.

According to the announcement, the decline in earnings was due to the outbreak of the Omicron variant virus strain in China and corresponding control measures and restrictions, which not only affected the sales and delivery activities of the environmental products business division during the period, but also caused delays in the engineering, production and procurement activities of some of the Group's customers, causing the revenue of the environmental products business segment to fall 42% from HK$16.12 million in the previous period to HK$9.373 million for the current period.