According to the Zhitong Finance App, China Hengyouyuan Group (08128) issued an announcement. The group expects to turn profit after tax into profit in fiscal year 2023. Compared with a loss of approximately HK$135 million as at 31 December 2022, the profit after tax for the current period is expected to be no less than HK$1 million.

The above increase in profit after tax in 2023 was mainly due to the reduction in administrative expenses during the year and the recovery of previous contract assets. The Board believes that this growth reflects an increase in the company's operating capacity, mainly due to the Group's continuous strengthening of management and enhanced receivables collection management capabilities based on independent project accounting.