According to the Zhitong Finance App, Gongai Limited (01421) announced results for the six months ended December 31, 2023. The group achieved revenue of HK$63.118 million, a year-on-year decrease of 2.07%; losses attributable to the owners of the company were HK$27.654 million, an increase of 187.08% over the previous year; and a loss of HK$33.1 per share.

According to the announcement, the increase in losses was mainly due to poor performance in the distribution systems segment to a loss of approximately HK$11.6 million (6 months ending 31 December 2022: profit of HK$12 million); the performance of the solar power business segment improved to profit of about HK$1.1 million and a reduction in fair value losses of about HK$300,000 in fair value financial assets (6 months ended 31 December 2022: HK$1.8 million).