Guoen Holdings (08121) released annual results for the year ended March 31, 2024, with revenue of HKD 116 million, down 3% year-on-year; net income of HKD 3.167 million, compared to a loss of HKD 5.897 million in the same period last year; and basic earnings per share of 1.90 Hong Kong cents.

The performance turnaround during the period is mainly due to the following factors: continuing to implement cost control policies, reducing employee costs generated by administrative expenses; reducing marketing-related expenses generated by sales expenses; and partially offsetting the decrease in subsidy income received from the "retaining employment" plan by the Hong Kong government.