Tungtex Reports Challenging Fiscal Year with Losses

Tungtex (Holdings) Co (HK:0518) has released an update.

Tungtex (Holdings) Company Limited reported a shift from a profit of HK$18,800,000 in 2023 to a loss of HK$13,989,000 for the year ended 31 March 2024. The company experienced a significant drop in revenue from HK$753,214,000 to HK$516,783,000 and also faced a total comprehensive income decline, with owners of the company seeing a decrease from HK$13,855,000 to a loss of HK$15,242,000. These results illustrate a challenging fiscal year for Tungtex, marked by reduced sales and increased financial pressures.

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