Gelonghui March 26 | Chenxun Technology (02000.HK) announced that for the year ended December 31, 2023, the Group achieved a turnover of HK$543.9 million in 2023, a decrease of 14.7% over the same period last year. However, gross profit margins have returned to normal levels this year. By controlling material procurement costs and improving R&D and production efficiency, in particular, the timely clean-up of ODM inventory materials over the past year and provision for sluggish materials, the Group's gross loss amount in 2022 was improved from HK$12.1 million to a gross profit of HK$120.3 million this year. The loss margin for the whole year was drastically reduced compared to 2022, and it was still unprofitable. However, due to a large amount of non-recurring revenue during the year, the Group recorded a net profit for the year. The Group recorded profit attributable to company owners of HK$344.3 million this year (2022: loss attributable to company owners of HK$509.5 million). Basic earnings per share for the year were HK16.07 cents. Profit turned loss into profit, mainly due to the revenue recorded from land repossession. China's pre-VAT revenue from the recovered land is approximately HK$537.8 million.