REM Group Holdings (01750) announced that it expects a net loss of approximately HKD 537,000 for the six months ending June 30, 2023, compared to the same period. The Group is expected to incur a net loss of no less than HKD 2.8 million for the six months ending June 30, 2024.
REM Group Holdings (01750) announced that it expects a net loss of approximately HKD 537,000 for the six months ending June 30, 2023, compared to the same period. The Group is expected to incur a net loss of no less than HKD 2.8 million for the six months ending June 30, 2024.
The Board of Directors believes that the main reason for the loss is the decrease in the Group's revenue by approximately HKD 25.6 million or 29.8%, due to a decrease in sales orders from customers for low-voltage distribution and control devices, as well as an increase in administrative costs due to an increase in employee costs for local Hong Kong employees.