Summary by Moomoo AI
For the six months ended 30 September 2024, Hengyi Holdings revenue decreased from HK$85 million to HK$78.8 million, down 7.3% year-on-year. Gross profit decreased from 13.9% to 0.5%, mainly due to higher material and labor costs and intense price competition. It recorded a loss of HK$10.6 million for the period and a profit of HK$6.6 million for the same period last year.Management noted that market challenges and the competitive environment were putting pressure on the Group's operations and expected these difficulties to continue. Due to liquidity issues with customers and the construction industry, the Group confirmed an expected credit loss of HK$1.9 million in trade receivables. Other income and income decreased from HK$6.4 million to HK$0.1 million, mainly due to non...Show More