Gelonghui, March 27 | Hi-Tech (02086.HK) announced that for the year ended 31 December 2023, the Group's revenue decreased by 16% to HK$79.2 million. The Group recorded an annual loss of HK$19.2 million (2022: profit of HK$1.1 million). The Board does not recommend payment of a final dividend for the year ended 31 December 2023.
The decline in revenue was mainly due to the impact of the war and economic downturn in Europe. Disruptions caused by the war and economic downturn seriously affected the shipping schedule of the company's products, leading to a decline in total sales revenue.