According to the Zhitong Finance App, Guan Guan Holdings (08606) released its results for the nine months ended September 30, 2023. The group achieved profit of HK$202 million, a year-on-year decrease of 1.35%; the company owners accounted for a loss of HK$6.873 million, a year-on-year narrowing of 64.59%; and a basic loss of HK0.48 cents per share.

According to the announcement, the decrease in losses attributable to shareholders during the quarter was mainly due to an expected reduction in credit loss provisions of about HK$3.3 million; a decrease in amortization of intangible assets of HK$2.4 million; and an increase in gross profit of about HK$6.8 million (due to an increase in gross profit from providing IT development solution services and providing IT maintenance and support services).