Gelonghui March 28th 丨Weili Holdings (02372.HK) announced that for the year ending December 31, 2022, earnings decreased by about 22.0% to about RMB 289 million; gross profit decreased by about 26.2% to about RMB 60.4 million; profit attributable to the company's shareholders was approximately RMB 25 million; in 2021, it was approximately RMB 35.7 million, and the basic profit per share was approximately RMB 3.6 cents.

The decline in revenue was mainly due to (i) electricity shortages in Hubei Province in the third quarter of 2022; (ii) local governments in various regions of China implemented measures to respond to COVID-19 from mid-July 2022; and (iii) in the second half of 2022, the Group's customers experienced loss of bids and/or a decline in sales.