Huaxiholdings (01689) announced that the group is expected to have a loss of about 21 million Hong Kong dollars for the six months ending June 30, 2024, compared to a loss of about 8 million Hong Kong dollars for the same period in 2023 by the company's shareholders...

The announcement stated that the increase in loss attributable to shareholders of the company during this period was mainly due to the following reasons: competition in the market was fierce and sales revenue of cigarette packaging products decreased due to the decrease in demand from major customers; the increase in losses from the group's environmental and ecological restoration business, which was due to the additional costs incurred in maintaining existing projects during this period when no new ecological restoration projects were acquired; and the fluctuations in the securities markets of Hong Kong and mainland China during this period, which led to an increase in losses from financial assets measured at fair value and recognized in profit or loss.