Hengwei Group Holdings (08219) issued an announcement. The Group expects to acquire public funds for 9 months ending September 30, 2023...
According to the Zhitong Finance App, Hengwei Group Holdings (08219) issued an announcement. The Group expects to obtain losses attributable to company owners of no less than HK$5 million in the nine months ending September 30, 2023, while profits attributable to company owners will be approximately HK$2.64 million for the nine months ending September 30, 2022.
According to the announcement, the conversion of profit to loss was mainly due to (i) the continued unknown direction of the global market, which led to a decrease in revenue from HK$208 million in the nine months ending the same period in 2022 to HK$144 million in the nine months ended September 30, 2023; and (ii) increased bank interest rates, which led to an increase in group financing costs.