According to the Zhitong Finance App, Guoen Holdings (08121) announced the first quarter results for the three months ended June 30, 2023. Revenue was HK$303.34 million, up about 6.93% year on year; net loss of HK$34,000, down 98.8% year on year; and loss of HK0.02 cents per share.

According to the announcement, the increase in total revenue was mainly due to increased revenue from creative and technology services, partly offset by reduced revenue from social media management services and digital advertising services. The reduction in losses is mainly due to an increase in revenue generated from the provision of creative and technological services; a reduction in staff costs resulting from administrative expenses due to continued implementation of expenditure control policies; and a reduction in marketing-related expenses resulting from sales expenses.