The comprehensive loss attributable to shareholders of Nanyue Holdings (01058) in the first three quarters of HK$11.349 million narrowed 61.7% year-on-year

According to the Zhitong Finance App, Nanyue Holdings (01058) released unaudited financial data for the nine months ended September 30, 2024. The group obtained revenue of HK$64,193 million, a year-on-year decrease of 7.3%; the company's shareholders should have accounted for a comprehensive loss of HK$11.349 million, a decrease of 61.7% year-on-year.

Facing an environment where domestic demand is weak, the Group actively increases the proportion of external processing operations, effectively reduces fixed costs per unit, and has a positive impact on gross profit. At the same time, the Group is strengthening research and development, promoting cost reduction, energy saving and consumption reduction, continuously improving management measures, and improving operational efficiency. During the period, although there was a decrease in turnover compared to the same period last year, the reduction in product unit costs and the sale of some poor quality and problematic inventory at the best price last year increased inventory impairment reserves. As a result, gross profit changed from loss to profit. Coupled with reduced administrative expenses, the Group's operating losses decreased by 61.7% compared to the same period last year, and operating performance improved dramatically.