Chengang Technology (08131) announced that the group expects to lose money for the year ending November 30, 2023...
According to the Zhitong Finance App, Chen Gang Technology (08131) announced that the group expects a net loss of about HK$12.782 million for the year ended November 30, 2023, and a net profit of about HK$9.11 million for the year ended November 30, 2022.
According to the announcement, the anticipated net loss for the year ended November 30, 2023 is mainly due to the following reasons: (1) For the year ended November 30, 2023, the Group achieved revenue of approximately HK$26.203 million, a decrease of 56.5% compared with approximately HK$60.244 million in the same period last year. The decrease in total revenue was mainly due to customer delays in the delivery and launch of existing projects for the year ended November 30, 2023; and the Group's gross profit for the year ended November 30, 2023 decreased by 56.7% from HK$35.6.36 million to HK$15.4.29 million due to reduced revenue for the year ended November 30, 2023.
