Wing Chi Holdings Limited (HK:6080) has released an update.
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Wing Chi Holdings Limited reported an increase in annual revenue by 25.1% to HK$671.9 million for the fiscal year ending March 31, 2024, but faced a decline in net profit and gross margin, dropping to HK$3.7 million and 6.1% respectively, from the previous year’s HK$9.8 million and 8.1%. The reduction in profit was largely due to the lack of government subsidies and increased market competition. Consequently, the company’s earnings per share fell from HK$1.1 cents to HK$0.4 cents, and no final dividend was recommended by the Board.
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