Ying Hai Group (08668) announced in a statement that the company's attributable net profit for the six months ended June 30, 2023 (the second quarter of 2023) is expected to be approximately HKD 3 million, compared to a projected attributable net loss of not more than HKD 7 million for the six months ended June 30, 2024.
According to the announcement, the expected net loss for the second quarter of 2024 is primarily attributed to a decrease in gross profit from sales and distribution of hotel rooms (mainly due to intense competition in the hotel industry) and an increase in administrative expenses (mainly due to employee benefits and sponsorship expenses).
Ying Hai Group (08668) announced in a statement that compared to the net profit achieved by the group in the second quarter of 2023, the expected loss in the second quarter of 2024 is primarily attributed to a decrease in gross profit from sales and distribution of hotel rooms (mainly due to intense competition in the hotel industry) and an increase in administrative expenses (mainly due to employee benefits and sponsorship expenses).
