8178) Reports Positive Growth in Turnover and Decrease in Losses for First Quarter 2023 Results
HONG KONG, May 31, 2023 /PRNewswire/ — China Information Know-how Enhancement Constrained (CITD) (HKEX: 8178), a foremost technology organization specializing in AI and cloud technologies, declared its economic final results for the a few months finished 31 March 2023 (the “Period of time”). The business seasoned a important increase in turnover and a minimize in losses compared to the corresponding interval in the previous year. Important highlights for the very first quarterly benefits involve:
1. Turnover: CITD attained a extraordinary turnover of around HK$32,977,000 for the Period of time, representing a considerable maximize of 57.9% compared to the identical interval very last calendar year (2022: somewhere around HK$20,887,000). The maximize is largely because of to the raise of revenue in IT alternatives and routine maintenance small business.
2. Losses: The decline attributable to entrepreneurs of the Firm for the a few months finished 31 March 2023 amounted to roughly HK$3,027,000, demonstrating a sizeable advancement compared to the corresponding interval in 2022 (2022: loss of around HK$3,880,000). The minimize in losses can be attributed to quite a few things, such as a reduction in analysis and enhancement costs for the clever retail cloud platform and network protection of IoT cloud platform, amounting to approximately HK$2,180,000. In addition, an increase in legal and specialist fees for publication of circulars and announcements connected to corporate actions through the Period of time contributed to the losses.
3. Earnings for every Share: The loss for every share attributable to owners of the Firm for the a few months finished 31 March 2023 was close to HK$5.88, demonstrating a noteworthy improvement compared to the restated loss of close to HK$11.31 for the identical period in 2022.
Commenting on the effects, Daniel Wong, Chairman and Chief Executive Officer of CITD, mentioned, “We are pleased to report constructive progress in turnover and a major reduction in losses for the initial quarter of 2023. The maximize in turnover displays our robust industry placement and the trust our shoppers area in our revolutionary alternatives. Irrespective of the issues confronted through the Period of time, we have managed to lower losses and keep a emphasis on innovation and expansion. We stay fully commited to driving further expansion and delivering value to our stakeholders.”
For additional details about CITD, make sure you take a look at www.CITD.com.hk.
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Source China Information Technology Advancement Confined
