The Zhitong Finance App learned that Xinyi Network Group (01,686) fell more than 8% in early trading and fell 8.27% at press time to HK$3.44, with a turnover of HK$4.32 million.
According to the news, the company announced its annual results for the year ended June 30, 2023. The group achieved revenue of HK$2,346 million during the period, an increase of 12.47% over the previous year; profit attributable to shareholders of HK$905 million, an increase of 6.91% over the previous year; basic profit of 22.3 HK cents per share; and proposed to pay a final dividend of HK11.2 cents per share. The announcement stated that the increase in revenue was mainly driven by increased demand for data center space from “large-scale” customers and rising prices for existing customers.
Earlier, the company announced that Mr. Tang Guojiang had resigned as the company's executive director and CEO, effective from September 22, 2023 to seek other development opportunities and plan to move to Singapore with his family. The company is looking for a suitable person to be appointed as the company's chief executive, and further announcements will be made in due course. During the transition period, Feng Yulin (Vice Chairman and Executive Director of the Company) will be responsible for Tang Guojiang's position and lead the company along with Chen Wenyuan (Chief Operating Officer and Executive Director of the company) and other current senior management teams of the company.