Gelonghui, May 20 | Gaofeng Group Holdings (02863.HK) announced that for the six months ended March 31, 2024, the Group's revenue was approximately HK$346.3 million, a decrease of approximately HK$20.8 million or 5.6% over the same period in 2023. The reduction in question was relatively light.

Gross margin increased to approximately 9.8% during the period (2023:6.5%). During the period, total profit and overall revenue increased by approximately HK$0.5 million, mainly due to the net impact of increased gross profit, reduced labor costs and increased administrative expenses.