On November 26, Gelonhui announced that China in-tech (00464.HK) expects the group to record a net loss of not more than 23.5 million Hong Kong dollars for the six months ending September 30, 2024, compared to a net loss of approximately 8.3 million Hong Kong dollars for the six months ending September 30, 2023.
The board of directors believes that the expected increase in losses is mainly due to reduced revenue and a decrease in gross margin. The decrease in gross margin is mainly due to increases in material costs and wages.
