According to the Zhitong Finance App, Kam Hing International Holdings (02307) announced that the Group expects to obtain net losses attributable to company holders of approximately HK$135 million to HK$155 million in fiscal year 2023.

According to the announcement, the net loss due to company holders' share in fiscal year 2023 is mainly due to: demand in the textile and apparel industry recovering at a slower pace than expected in the European and American markets; declining sales volume and gross margin due to various factors such as geopolitical issues and intense market competition; certain supporting expenses, such as one-time taxes, severance payments and asset disposal expenses due to streamlining the company structure; and a significant increase in net interest expenses in fiscal year 2023. The Board is optimistic that the streamlining measures implemented at the end of 2023 and the reduction in the total loan balance will have a positive impact on the Group's performance in 2024.