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Haina Star Technology(08297) released its interim results for the six months ended September 30, 2022, with a profit of HK$21.605 million, a year-on-year decrease of 13%; a net loss of HK$10.209 million, compared with a net profit of HK$1.875 million in the same period last year; a loss per share of HK$1.48 cents.
According to the announcement, the decrease in earnings was due to lower sales volumes due to weak retail sales due to the COVID-19 pandemic. The turnaround was mainly due to lower sales volume and higher staff costs and depreciation of right-of-use assets accounted for under HKFRS 16.
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