Huasheng International expects FY net loss to widen at least 45% from HK$92.4 million
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Huasheng International expects its fiscal year net loss to widen by at least 45% to approximately HK$134 million, compared to HK$92.4 million in the prior year. Revenue declined 24% due to a downturn in Hainan residential projects, slower commercial developments, and price competition in ready-mixed concrete. Gross profit fell as high raw material costs squeezed margins, and the company recorded a HK$32 million non-cash goodwill impairment on its concrete business.
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