Huaxi Holdings (01689) announced the results for the year ended December 31, 2023, and the group achieved revenue of 1...
According to the Zhitong Finance App, Huaxi Holdings (01689) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$155 million, a year-on-year decrease of 20.12%; losses attributable to the owners of the company were HK$41.184 million, a decrease of 22.45% year-on-year; and a loss of HK5.87 cents per share.
Overall gross margin was 21.4% this year, down 2.8% from 24.2% in 2022. This is mainly due to the fact that no new ecological restoration projects were obtained this year and revenue was confirmed to be refunded in the current year, resulting in gross losses in the environmental management business. The gross margin of the cigarette packaging business was about 30.5%, down 4.4% from 34.9% in 2022. The decline in gross margin was due to an increase in raw material prices and a decrease in the prices of some products this year.