According to the Zhitong Finance App, Ruixin International Group (00724) announced that it expects the Group to report an estimated loss of around HK$35 million in the six months ending June 30, 2023, while the loss is about HK$25.4 million for the six months ending June 30, 2022. The increase in estimated losses during the reporting period is mainly due to increased operating losses in the electronics business, which can be attributed to (i) reduced revenue, mainly due to the rapid development of the industry and the loss of several orders due to the failure of the Group's products to meet the new specifications of such customers; (ii) reduced gross profit, mainly due to the payment of additional compensation to certain customers for rework expenses incurred by certain customers to improve the Group's products to meet their requirements; and (iii) one-time expenses incurred in management expenses to prevent disclosure of the Group's expertise to competitors.