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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.
在香港開展業務的英屬維爾京群島控股公司王李集團有限公司（WLGS）發佈了截至2023年6月30日的六個月未經審計的中期財務業績。該公司專門爲公共和私營部門安裝各種電氣和機械系統，其收入從2022年同期的125萬美元增長了15.2％，至144萬美元。儘管收入增長，但該公司的一般和管理費用大幅增加，增長了204.8％，達到189萬美元，這主要是由於上市費用和工資支付的增加。收入成本也增長了35.6％，達到118萬美元。因此，毛利從38萬美元下降至25萬美元，該公司淨虧損162萬美元，而去年同期虧損24萬美元。財務業績在2023年12月28日的新聞稿中披露，並作爲6-K表報告的一部分提交給美國證券交易委員會。
在香港開展業務的英屬維爾京群島控股公司王李集團有限公司（WLGS）發佈了截至2023年6月30日的六個月未經審計的中期財務業績。該公司專門爲公共和私營部門安裝各種電氣和機械系統，其收入從2022年同期的125萬美元增長了15.2％，至144萬美元。儘管收入增長，但該公司的一般和管理費用大幅增加，增長了204.8％，達到189萬美元，這主要是由於上市費用和工資支付的增加。收入成本也增長了35.6％，達到118萬美元。因此，毛利從38萬美元下降至25萬美元，該公司淨虧損162萬美元，而去年同期虧損24萬美元。財務業績在2023年12月28日的新聞稿中披露，並作爲6-K表報告的一部分提交給美國證券交易委員會。
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