On May 14, Ge Longhui Construction Group (03822.HK) announced that the Group expects to record a net loss of no less than HK$20 million for the year ending March 31, 2024. The Group relied on the Kai Tak Public Housing Project (awarded and commenced in 2022) as the main source of revenue for the year, but some of these works needed to be delayed until the contract owners have developed a viable solution to deal with the complex stratigraphic conditions of the project. Due to delays in major engineering projects, the amount of revenue and gross profit generated up to this year was insufficient to offset all of the Group's fixed expenses and financial expenses. And due to rising interest rates on loans, this year's financial expenses have also increased significantly compared to last year.