Gelonghui, March 26, 丨 Hengyu Group (02448.HK) announced that the Group is expected to record a loss attributable to the company owner of not less than MOP 126 million for the year ended December 31, 2023, while for the year ended December 31, 2022 (the “previous year”), profit attributable to the company owner was approximately MOP 21.5 million.
This shift from profit to loss was mainly due to reduced earnings. The Group's revenue for the year decreased by about 40% to 45% compared to the previous year, or about MOP 260 million to MOP 286 million, and the overall gross profit for the year decreased by about 48% to 52% compared to the previous year, or about MOP 56.8 million to MOP 61.5 million, mainly due to the reduction in renovation projects.