Summary by Moomoo AI
Huawei Group Holdings Limited (“Huawei Group”) announces its annual results for the year ended 31 December 2023. The report showed that the company's revenue reached RMB234.7 million, up 13.3% from 2022; gross profit reached RMB149.9 million, up 45.1% year-on-year; profit before income tax expenses was RMB 78.8 million, up 41.7%; profit for the year was RMB65.0 million, up 42.2%; adjusted net income Profit was RMB80.7 million, an increase of 60.1%. The Group's main business is branding, advertising and marketing services and operates mainly in China. The company was incorporated in the Cayman Islands on 18 February 2021 and listed on the main board of the Hong Kong Stock Exchange Limited on 10 November 2023. During the reporting period, Huawei Group did not acquire or sell any significant subsidiaries, joint ventures and joint ventures and did not hold any significant investments. Management remains optimistic about future financial statements and business performance.