According to Zhitong Finance App News, Huicong Group (02280) announced its annual results for the year ended December 31, 2023. Continuing operations generated total sales revenue of about 18.448 billion yuan, an increase of about 9.9% year on year; loss due to company equity holders was 1.83 billion yuan, an increase of 715.64% year on year; adjusted net loss was about 87 million yuan; and basic loss per share was 1.3967 yuan.

According to reports, the increase in sales revenue was mainly due to cotton product exchanges generated by the smart industry division Cotton Federation.