Gelonghui, March 26 | Guohong Hydrogen Energy (09663.HK) announced its 2023 annual results. During the reporting period, total revenue was approximately RMB 700.6 million, a year-on-year decrease of about 6.4%; gross profit was approximately RMB 175.8 million, an increase of about 10.7% year on year; loss attributable to company owners was approximately RMB 404.4 million, while losses attributable to company owners were approximately RMB 273.4 million, and the basic loss per share was approximately RMB 0.95 million.

The decline in the Group's revenue during the reporting period was mainly due to the fact that the hydrogen fuel cell industry in which the Group is located is still in the early stages of commercialization; uncertainty about the development of the hydrogen energy commercialization scenario caused some of the Group's customers to postpone orders, and revenue did not meet expectations for the year; and the average sales price of hydrogen fuel cell systems declined.