Hao Tian International Construction Investment Group (1341) H2 2023 earnings summary

Executive summary

• Achieved a profit of HK$108 million for the year ended 31 March 2023, reversing a loss of HK$412 million in the previous year.

• Total revenue increased to HK$246 million, up from HK$220 million year-over-year.

• Growth driven by higher sales and rental income from construction machinery, offsetting declines in financial services and money lending.

• Maintained a diversified business portfolio across construction, financial services, property development, and money lending.

Financial highlights

• Revenue rose 12% year-over-year to HK$246 million.

• Net profit of HK$108 million, compared to a net loss of HK$412 million last year.

• Gross profit increased to HK$82 million from HK$76 million.

• Basic and diluted EPS at 1.42 HK cents, up from a loss per share of 5.54 HK cents.

• No dividend declared for the year.

Outlook and guidance

• Plans to expand client base in financial services and money lending, and explore new investment opportunities in natural resources.

• Remains confident in existing businesses and will continue to monitor performance to maximize shareholder returns.

• Cautious approach to risk management and capital allocation amid global economic uncertainties.