On November 29, Glonghui announced that for the six months ending on September 30, 2024, the group's revenue increased from approximately 17.1 million Hong Kong dollars in the previous period to about 76.1 million Hong Kong dollars, representing a rise of about 59 million Hong Kong dollars or 344.5%. This increase was mainly due to the revenue growth of the company's new smart phone distribution business segment.
The loss attributable to the owners of the company increased from approximately 8.8 million Hong Kong dollars in the previous period to about 13.3 million Hong Kong dollars in the current period, primarily due to (i) the recognition of an expected crediting loss provision of about 4.8 million Hong Kong dollars in the current period, while the previous period had a reversal of expected crediting loss of about 2.4 million Hong Kong dollars; (ii) a decrease in other income of about 1.4 million Hong Kong dollars; (iii) a decrease in administrative and other operating expenses of about 2.5 million Hong Kong dollars; and (iv) a decrease in selling and distribution expenses of about 0.6 million Hong Kong dollars.