Gelonghui, December 22|Hongshengchang Resources (01850.HK) announced that the company expects to record an unaudited comprehensive profit of not less than HK$1.2 million for the six months ending October 31, 2023, compared to the audited comprehensive profit of about HK$5.5 million for the six months ended October 31, 2022.

The decrease in unaudited consolidated profit for the period was mainly due to (i) a decrease in gross profit due to an increase in sales costs; (ii) a decrease in other income due to a decrease in government subsidies; and (iii) an increase in administrative expenses due to an increase in legal and professional expenses.