On September 26, Gronghui announced that CrossTec (03893.HK) expects to record a comprehensive net loss of approximately 118 to 131 million Hong Kong dollars for the year ending June 30, 2024, compared to a net loss of about 536 million Hong Kong dollars in the previous year.

The Board of Directors believes that the significant decrease in the group's comprehensive net loss for the current year is mainly attributed to: (a) reversing contract modification costs of approximately 6.3 million Hong Kong dollars and expected losses of about 6.4 million Hong Kong dollars from loss-making contracts, resulting in gross profit instead of gross loss; (b) a decrease of approximately 8.1 million Hong Kong dollars in impairment losses on properties, factories, and equipment for the current year; (c) recording income of about 4.6 million Hong Kong dollars from early termination of leases for the current year; and (d) a decrease of approximately 9.1 million Hong Kong dollars in administrative expenses for the current year.