Zitong Financial App News, Detai New Energy Group (00559) released its annual results for the year ended June 30, 2023. The group earned a profit of HK $31.159 million during the period, down 24.1% from the same period last year. The loss attributable to shareholders was HK $69.831 million, down 48.59% from the same period last year; the basic loss per share was HK0.44 cents.

According to the announcement, the decrease in net loss for the year was mainly due to no gross loss and inventory write-off of about HK $27 million in the alcoholic products business, and a decrease of about HK $26 million in fair value loss on financial assets at fair value to profit or loss; and a decrease of about HK $13 million in general and administrative expenses.