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Wang & Lee Group, Inc. (WLGS), a British Virgin Islands holding company with operations in Hong Kong, has released its unaudited interim financial results for the six months ended June 30, 2023. The company, which specializes in the installation of various Electrical & Mechanical Systems for the public and private sectors, reported a revenue increase of 15.2% to $1.44 million from $1.25 million in the same period of 2022. Despite the revenue growth, the company experienced a significant increase in general and administrative expenses, which rose by 204.8% to $1.89 million, primarily due to higher listing fees and salary payments. The cost of revenues also increased by 35.6% to $1.18 million. Consequently, the gross profit decreased to $0.25 million from $0.38 million, and the company incurred a net loss of $1.62 million, compared to a loss of $0.24 million in the previous year. The financial results were disclosed in a press release dated December 28, 2023, and filed with the SEC as part of the Form 6-K report.
Wang & Lee Group, Inc. (WLGS), a British Virgin Islands holding company with operations in Hong Kong, has released its unaudited interim financial results for the six months ended June 30, 2023. The company, which specializes in the installation of various Electrical & Mechanical Systems for the public and private sectors, reported a revenue increase of 15.2% to $1.44 million from $1.25 million in the same period of 2022. Despite the revenue growth, the company experienced a significant increase in general and administrative expenses, which rose by 204.8% to $1.89 million, primarily due to higher listing fees and salary payments. The cost of revenues also increased by 35.6% to $1.18 million. Consequently, the gross profit decreased to $0.25 million from $0.38 million, and the company incurred a net loss of $1.62 million, compared to a loss of $0.24 million in the previous year. The financial results were disclosed in a press release dated December 28, 2023, and filed with the SEC as part of the Form 6-K report.
在香港开展业务的英属维尔京群岛控股公司王李集团有限公司（WLGS）发布了截至2023年6月30日的六个月未经审计的中期财务业绩。该公司专门为公共和私营部门安装各种电气和机械系统，其收入从2022年同期的125万美元增长了15.2％，至144万美元。尽管收入增长，但该公司的一般和管理费用大幅增加，增长了204.8％，达到189万美元，这主要是由于上市费用和工资支付的增加。收入成本也增长了35.6％，达到118万美元。因此，毛利从38万美元下降至25万美元，该公司净亏损162万美元，而去年同期亏损24万美元。财务业绩在2023年12月28日的新闻稿中披露，并作为6-K表报告的一部分提交给美国证券交易委员会。
在香港开展业务的英属维尔京群岛控股公司王李集团有限公司（WLGS）发布了截至2023年6月30日的六个月未经审计的中期财务业绩。该公司专门为公共和私营部门安装各种电气和机械系统，其收入从2022年同期的125万美元增长了15.2％，至144万美元。尽管收入增长，但该公司的一般和管理费用大幅增加，增长了204.8％，达到189万美元，这主要是由于上市费用和工资支付的增加。收入成本也增长了35.6％，达到118万美元。因此，毛利从38万美元下降至25万美元，该公司净亏损162万美元，而去年同期亏损24万美元。财务业绩在2023年12月28日的新闻稿中披露，并作为6-K表报告的一部分提交给美国证券交易委员会。
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