Hong Kong Resources Holdings Co. Ltd. (HK:2882) has released an update.
Hong Kong Resources Holdings Co. Ltd. has faced a challenging year with annual revenue declining by 5% to HK$587 million, while losses soared with a 34% increase in total loss and a 51% jump in loss attributable to equity holders, mainly due to a hedging loss from rising gold prices. Despite the revenue dip, the company has embarked on a strategic overhaul with the expansion of self-operated retail shops across Hong Kong, Macau, and Mainland China, following Luk Fook Holdings’ acquisition of 3DG Holdings. Gross margin saw a positive turn, improving by 3 percentage points to 29%.
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