According to the Zhitong Finance App, China Hengyouyuan Group (08128) announced that the profit for the three months ending September 30, 2023 turned a loss into a profit. Compared with the loss of HK$7.748 million in the same period in 2022, the expected profit for the current period is between HK$15 million and HK$16 million. The net loss after tax for the nine months ended September 30, 2023 is expected to be approximately 95% to 99.7% narrower than HK$44.911 million for the same period last year.

The narrowing of net loss after tax during the period was mainly due to: an increase in other income and earnings; and an increase in impairment of contract assets back to net value.