On November 25th, Gelonghui reported that Oneforce Holdings (01933.HK) announced that during the six months ended September 30, 2024, the company's operating income decreased by approximately RMB 69,054,000 compared to the same period last year, a decrease of 27.2%, mainly due to a reduction in the number of projects. To strengthen cash flow management, the group reduced projects with longer payment cycles.

The overall gross margin decreased from about 16.2% to about 9.7%, mainly due to intensified market competition. The group adjusted quotes for new projects to gain long-term customers.

Shareholders' attributable loss for the reporting period was approximately RMB 13,988,000, while shareholders' attributable profit for the same period last year was approximately RMB 2,821,000. The shift from profit to loss is mainly attributed to: i) the decrease in gross margin mentioned above; and ii) an increase of approximately RMB 3,198,000 in trade receivables and impairment losses on contract assets.